Futures have rebounded almost .50% after testing recent lows yesterday. Traders remain focused on tomorrow’s FOMC minutes and Thursday’s CPI print. continued for members… … continue reading →
Tag Archives: Dollar
In a speech that was essentially a mashup of all his other recent speeches, Powell reiterated at Jackson Hole on Friday that the pandemic – not historically dovish monetary policy – caused the recent huge spike in inflation. In fact, the Fed should be congratulated for putting out the inflationary fire that they started. He … continue reading →
Futures are up slightly as the FOMC begins its July meeting. But, it’s a continuation of the consolidation that began last week. continued for members… … continue reading →
A lot has happened for RUT in the past week. It was only 11 days ago that we updated its chart, suggesting RUT would reach 2282 by the end of the year. RUT’s reversal at its .618 in April set up either a Gartley or Bat pattern, meaning a move to its .786 at 2282.27 … continue reading →
Already elevated on AAPL’s announcement of a historic buyback, futures popped on a weaker than expected jobs report. The only problem is that this ramp puts them right back at the top of the channel which has prompted three previous tumbles. Will this one be any different? continued for members… … continue reading →
Futures have regained about 30 points after last week’s drubbing. continued for members… … continue reading →
Futures tanked overnight on news of Israel’s rocket attack on Iran, only to recover all their losses as we go to press. The latest retaliation is being characterized as a tit for tat. But it’s easy to imagine the Plunge Protection Team working overtime to calm markets by hammering VIX and WTI back down from … continue reading →
As we suspected, Wednesday’s lows weren’t enough to generate a sustainable bounce. We’re seeing the aftermath of that premature technical bounce this morning. Our long held bearish position on EURUSD, for instance, is finally gathering a little momentum.The challenge for bears remains SPX’s 50-day moving average, currently at 5105. If VIX can remain below 18.50, … continue reading →
Futures are up modestly as traders look ahead to this week’s important data dumps: FOMC minutes and CPI on Wednesday, initial claims and PPI on Thursday, and Friday’s U of Michigan consumer sentiment. continued for members… … continue reading →
NFP came in at 303K vs 200K estimates, a huge beat which, combined with a decline in the unemployment rate, argues against any near term rate cuts. ES is all over the map this morning, but has given up much of its overnight ramp and is approaching our next downside target. With CPI coming out … continue reading →