OPEC’s Party Was a Bust

OPEC+ threw the party they said they would. Everyone was talking about it. But, nobody came. CL and RB had already celebrated in the days leading up to the meeting and we were left with a non-event with CL stuck at a channel top and RB slamming into its 50-day MA.  Might there be an … continue reading →

All Eyes on OPEC+

If the enemy of my enemy is my friend, is the friend of my enemy my enemy? The relationship between the US and the Saudis has been through plenty of ups and downs, but it’s been years since it was as fraught as it is now. The West is trying to put the screws to … continue reading →

VIX: Not a Coincidence

When COMP bounced at 10,572.33 on Friday, a mere 7.19 above its June 16 lows, it might have struck some as a coincidence.  It wasn’t. It was a well-coordinated effort to ensure that new lows were avoided – at least for the time being.The usual culprit: VIX.  For the 6th session in a row and … continue reading →

(The Latest) Moment of Truth

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 →

Fed Meeting on Deck

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 →

Pretty Soon, You’re Talking Real Money

Apparently, investors aren’t quite as sanguine about inflation as it seemed. After slightly overshooting our upside target from February, SPX plunged 4.32% – about $1.5 trillion in market cap. Trillion-and-a-half here, trillion-and-a-half there, pretty soon you’re talking real money.  It was the worst day in the markets since March 2020 and one of the worst … continue reading →

Inflation Rises

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 →