Another VIX-inspired, holiday weekend ramp in the futures in the face of dismal headlines… What a shock. Not. continued for members… … continue reading →
Tag Archives: DXY
Futures are up sharply on a better than expected jobs report: up 4.8 million, and the unemployment rate dropping to 11.1%. Initial claims came in at 1.43 million, with continuing claims rising slightly to 19.3 million. The direction didn’t surprise anyone, but the numbers surprised most. The reopening of most of the country over the … continue reading →
Futures are up modestly this morning as we glide into the quarter end on a holiday-shortened, low-volume week. VIX’s triangle perfectly illustrates the technical picture: attempts to break out have been beaten back, while threats to break down have routinely been rebuffed. It’s exactly what one would expect when the goal is to maintain positive … continue reading →
Today is a very important day in the markets. The signals that prompted us to short on several days ago are still intact, and more have joined their ranks – the most notable being the breakdown in the 10Y flag pattern. ES snuck down and tagged our SMA200 target overnight. To put things simply: If … continue reading →
As we slowly make our way toward the end of Q2, we continue to see tests of important support. They are usually followed by sharp bounces despite the growing evidence that a selloff is right around the corner.Will today be the day the market finally takes the plunge? continued for members… … continue reading →
Futures are off slightly this morning as ES has backtested the channel it meant to break out of on OPEX Friday. Today marks the beginning of the last seven sessions until the end of Q2 – traditionally a period of flat or rising prices. Can the seasonal trend offset the growing list of bearish fundamental … continue reading →
Futures are heading for another test of the 2.618 Fib extension at 3076.93, the fourth since last pushing above it on Monday. There are numerous targets below, but that would mean cooperation from the algos – a rare commodity these days. The bearish case, however, is growing stronger every day. continued for members… … continue reading →
I saw an interesting interview on CNBC this morning where the guest observed how important overnight trading was to the market’s overall performance. Andrew Ross Sorkin offered data that if one bought the S&P 500 at the close of each day of trading and sold at the next morning’s open, they would be up 650% … continue reading →
Two steps forward…in order to accommodate a big step back. We’ve seen it countless times in the lead-up to Fed meetings, GDP reports and, lately, jobs data. With May unemployment expected to top 20% (it’s unofficially already there) after another 7.5 million joined the jobless ranks……the market’s caretakers put a 58-pt cushion into the market. … continue reading →
There’s a lot to unpack this morning, as several targets were tagged overnight. USDJPY finally popped up to tag its 200-DMA……which enabled ES to come within 1.43 of our 3076.93 target – the 2.618 Fib extension of the drop between 2007-2009. I thought this was going to happen over the weekend, but better late then … continue reading →