Just Another Thursday…

Another Thursday, another million filing for unemployment. Hopefully news of Jeff Bezos’ net worth topping $200 billion will take some of the sting out of being unemployed. As usual, the futures couldn’t care less, preferring to focus instead on whether or not the Fed will keep refilling the punch bowl following its virtual Jackson Hole … continue reading →

Why Argue?

Futures tagged our white channel midline target again overnight… …before bouncing when VIX reversed for the third time at trend line resistance.Note that ES’ white channel midline was first topped back on March 25. Since then, it has been tested 12 times. Clearly, someone thinks it’s pretty important. Who am I to argue? All I … continue reading →

Changes in Attitudes

It’s those changes in latitudes, changes in attitudes nothing remains quite the same. With all of our running and all of our cunning, If we couldn’t laugh, we would all go insane. ~Jimmy Buffett As expected, yesterday’s Fed minutes disappointed and the market was none too pleased. Turns out the Fed isn’t quite as optimistic … continue reading →

Breakout or Headfake?

Today’s post could be an extension of yesterdays, with more beneficiaries of the shutdown such as Target and Lowes reporting big beats.  Winners and losers. Curiously, ES failed to make a new high yesterday even thoughy SPX briefly rose above its February highs. You’ve always had to worry about predatory traders and specialists trying to … continue reading →

Winners and Losers

Watching WMT this morning and wondering what it all means?  After surging nearly 7% on blowout earnings, the stock has given up all its gains after the company’s commentary confirmed the obvious: there are winners and losers in a pandemic. Unlike many of its general retailer competitors…Walmart sells groceries, meaning they were allowed to remain … continue reading →