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Futures are up modestly, backtesting the 20-day moving average for a second day. Time to buckle up. continued for members… … continue reading →
Tag Archives: bonds
Following a series of intraday ramps, futures shot up above the 10-day moving average as soon as the market closed. Bogus? Of course. But, the record will reflect (and the algos have responded to) a seemingly bullish move. Chase it at your own peril. Today’s tricks will include trying to get past the 10am New … continue reading →
Futures just backtested the 10-day moving average and our analog trendline, leaving the door open for a pullback – as long as VIX doesn’t get clobbered again. continued for members… … continue reading →
WTI spent May 2020 through Feb 2022 in a fairly well-defined channel (below, in white) as it recovered from its pandemic lows. It broke out on Mar 1, however, topping 100 and taking only 5 sessions to reach our 130 target which wasn’t schedule to happen until December.Since then, it’s seen a series of fits … continue reading →
My apologies for today’s post being so late. Our webhosting company just now fixed the “network connectivity problem in one of [their] clusters.” I’d be very upset about it except for the fact that this is the very first time in over two years that they’ve ever let me down. This post will be a … continue reading →
Futures bounced over 1% overnight into OPEX, but are now flirting with negative readings. continued for members… … continue reading →
PPI dropped just a bit from last month, registering 10.8% YoY (unadjusted) for May versus 10.9% for April and 11.5% for March. The MoM tally was +0.8% for May versus 0.4% for April. The very slight drop in the YoY data is unlikely to assuage the Fed’s fears about inflation being out of control. But, … continue reading →
Futures are moderately higher this morning as algos respond enthusiastically to Salesforce’s earnings and ignore the ongoing meltdown in mortgage applications and uptick in COVID cases. Here’s a snapshot of testing results at my daughter’s college, which finally reinstated a mask mandate after the positivity rate reached 10%. I think they could use a primer … continue reading →
PCE comes out later this morning, providing the most up-to-date picture of the challenge facing the Fed. Judging from yesterday’s 2% pop, investors are hopeful that inflation might be leveling off. Futures are off very slightly. continuing… … continue reading →
The Information reports that Sequoia Capital has issued a warning to its startup founders, detailing a series of moves that should be taken to avoid a “death spiral.” “Its latest warning to its portfolio companies takes the form of a 52-slide presentation, a copy of which was viewed by The Information. Sequoia described the current … continue reading →