Sometimes I cringe when I place a target on a chart. Such was the case yesterday when ES reached our IH&S target at 3425. If it kept going, it was sure to backtest the intersection of the broken rising white channel at the falling channel top. Was that likely in the midst of election and … continue reading →
Tag Archives: bonds
Futures were all over the map last night, with ES’ 113-pt range dictated almost entirely by factors as opposed to election results – which, contrary to Trump’s declaration, are still AWOL. Note that ES tagged our IH&S neckline (also the former H&S neckline) target where it is currently running out of gas. As expected, the … continue reading →
Futures are higher ahead of the open on a slight increase in interest rates and the usual algo-baiting such as USDJPY’s latest bounce. continued for members… … continue reading →
September retail sales sharply beat estimates, coming in at +1.9% versus 0.8% expected. With enhanced unemployment and virtually all other stimulus having dried up, however, this could be retail’s last hurrah. But, it’s enough to boost stock prices on this OPEX Friday 2 1/2 weeks before a presidential election. continued for members… … continue reading →
More gimmicks, higher highs. It’s getting to be an old story. But, as long as voters and algos don’t know or care, it will continue. Futures were in danger of giving up Tuesday’s 3421.75 highs when VIX suddenly collapsed by 7% in a matter of seconds.When that didn’t immediately result in a sufficient boost, it … continue reading →
It’s not Trump, it’s the algos. While the mainstream media focuses on rumors regarding Trump’s return to office, the algos are zeroed in on VIX’s latest failure push above its 200-DMA.This is a kitchen sink moment. Oil and gas are pitching in, with 4.5% and 5.5% pops respectively in the pre-market. And, even USDJPY is … continue reading →
The week is kicking off with a 75-pt ramp job from yesterday’s lows and will feature both a Fed meeting and OPEX. Oh, and VIX gapped down last night. What could go wrong? continued for members… … continue reading →
Maybe the Fed had it right, leaving the door open to higher inflation. Though August headline PPI came in slightly higher than expected at 0.3% vs 0.2%, core PPI rose 0.4% versus 0.2% expected. S&P futures sold off 8 points on the news, but the algos had other ideas. As is often the case, “someone” … continue reading →
After a couple of days of VIX rising while stocks spiked higher, it only makes sense that VIX is falling while stocks are tumbling. This is the bizzaro world in which we’re living. Unless it bounces sharply on our channel bottom target today, add CL to the list of algo drivers which have experienced a … continue reading →
VIX’s 10/20 cross held yesterday, meaning we almost got a lower low on the day. The overnight ramp job was good for 32 points before DXY started attracting attention. It has dropped below the falling trend line it was patiently following, meaning our forecasts in the currency space are accelerating – especially EURUSD and silver. … continue reading →