Reply
Futures are off slightly this morning, passing on the opportunity to make new highs in the after-hours. continued for members… … continue reading →
Tag Archives: ES
In an excellent interview on CNBC this morning, Paul Tudor Jones echoed what many on Wall Street have been thinking and we have been writing for the past year or so. Inflation could be “much worse” than feared, billionaire hedge fund manager Paul Tudor Jones says. “It’s probably the single biggest threat to certainly financial … continue reading →
Futures are up moderately this morning, bouncing 60 points from their midnight lows on a retreat in VIX. Note that it wasn’t a collapse – the usual response when a rally is resuming. This lack of algo baiting occurred yesterday, too, when ES completed a Head & Shoulders Pattern and backtested it in a fashion … continue reading →
Once in a while, charts are so crystal clear that we can see the future as easily as we can reflect on the past. Gold is not one of those charts. The zigs and zags come fast and furious and rarely correlate with anything happening in the real world. Witness the indifference this so-called inflation … continue reading →
Futures nailed our 4424 target overnight. Most will attribute it to Powell’s (completely unsurprising) resolve to support the economy the stock market. But, we know that the algos were spurred into action by VIX’s drop back into the falling channel from Mar 2020 and its dip below its 200-DMA. Remember, it ain’t over till it’s … continue reading →
Futures reached our next downside target earlier this morning, the Fibonacci retracement at 4348 we added on Sep 9 [see: Just Don’t Call it a Taper.] ES is now off 4.6% since recent highs and 4% since our Correction Watch on Sep 8. The algo factors, which have propped up stocks for months, are positioned … continue reading →
Watching the “market” melt up and bonds barely budge in the face of all-time highs in the monthly and annual PPI print… More grist for the Fed’s “transitory” inflation scenario. Inflation is no longer dominated solely by soaring oil/gas prices. In other words, not transitory.Will the party end? Not as long as the Fed can … continue reading →
S&P 500 futures are soft this morning, flirting with their first drop through the 10-DMA in three weeks and breaking the dashed red trend line from Aug 16. continued for members… … continue reading →
OPEC+ is expected to increase production by another 400,000 bpd in today’s meeting, another dagger in the heart of the stubborn oil/gas rally. Of course, at this juncture, CL can backtest its SMA200 without even making a lower low. So, perhaps a pullback will finally be allowed. Given how important rising oil/gas prices have been … continue reading →
If you liked yesterday, today is shaping up as more of the same. But, there are still a few warning signs tugging at the market’s sleeve. continued for members… … continue reading →