As we’ve discussed several times over the past month, VIX’s trend line from Jan 24 was overdue for a revisit. Now that we’ve got it, will VIX nosedive as usual or are we in for something decidedly less bullish? The algos are geared up for a bounce. continued for members… … continue reading →
For months, VIX has facilitated higher equity prices – plumbing new lows, breaking down, refusing to rise in cases of obvious market distress. Today, it reached a trend line off the previous highs, all of which corresponded with sizeable bounces in the equity markets. It’s an extremely important test for bulls. continued for members… … continue reading →
Futures are off sharply this morning as important support for various instruments/indices/currencies begins to break down. continued for members.. … continue reading →
It’s unusual for stocks to sell off in the lead up to an FOMC meeting. Its also unusual for a bearish pattern such as a Head and Shoulders pattern to complete during those days. Yet, here we are. As has been the case since late August, the only thing preventing a severe downturn (aside from … continue reading →
Another ugly open for markets as ES, down about 1.25%, completed its H&S Pattern we’ve been watching take shape. More grist for the bearish mill…as though we needed any more. continued for members… … continue reading →
August CPI came in hot, rising 0.1% in August instead of the consensus 0.1% decline. Core was even worse: 0.6% versus 0.3% consensus. The annual print also disappointed, coming in at 8.3% versus expectations of 8.0% or less.Having slightly overshot our 4153 target overnight, ES is now reversing sharply.continued for members… … continue reading →
Futures are up modestly on light volume algo action in advance of tomorrow’s CPI data. continued for members… … continue reading →
Futures are off moderately in the wake of the ECB’s decision to impose a 75 bps rate hike – its highest ever – on an economy already reeling from spiraling inflation and weakening economic activity. continued for members… … continue reading →
Futures are flat after enjoying a modest overnight ramp. continued for members… … continue reading →
Yesterday marked the second day in a row of sharp declines in the equity markets following the 200-day moving average backtest and the passing of OPEX.There’s more where that came from. continued for members… … continue reading →