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Futures have slipped about 10 points on quiet trading. continued for members… … continue reading →
Tag Archives: NKD
The prop job continues, with VIX reaching a lower low and the DXY still under pressure. continued for members… … continue reading →
After closing below its 10-day SMA for the first time in a month, ES is backtesting it……on the back of PPI data that essentially echoed yesterday’s CPI print. Headline PPI crashed to 2.7% YoY and -0.5% MoM. Though stripping out food and energy, core PPI fell only 0.1% MoM and increased 3.4% YoY. As we … continue reading →
Job cuts rose to 228K (vs 200K expected) last week. It will officially register as a drop, however, as the previous week was revised from 198K to 246K. When viewed through the prism of new highs in bankruptcies and an earnings implosion… …it’s not too surprising that futures are drifting lower. continued for members… … continue reading →
After reaching our next upside target, futures have settled into a pause. No surprise, as the algo factors are doing the same. continued for members… … continue reading →
Futures have rebounded about 0.5% following yesterday’s roller coaster session that saw SPX backtest its SMA200. continued for members… … continue reading →
As expected, Powell and Co. were not amused by the market’s recent exuberance and decided to take things down a notch. The algos haven’t yet given up, though, with VIX still under pressure and DXY remaining oversold.The reversal is working just fine so far. But, with OPEX tomorrow and two weeks left in the year, … continue reading →
The universe has no trouble surprising us at times – things that make you stop and say “hmmm.” It is perhaps ironic that Shinzo Abe, architect of the greatest experiment in central bank monetary expansion and market manipulation in our lifetimes, has been shot dead as that experiment is being unwound. Naturally, the Nikkei futures … continue reading →
USDJPY finally tagged our 132.22 target overnight… …a target we set over six months ago [see: Update on Currencies Nov 17, 2021]:Ordinarily, this might be a good thing for stocks. Not this time, as it echos the dollar’s strength against the euro. continued for members… … continue reading →
In our last update on NKD [see: Nov 30 Update], I somewhat snarkily disparaged the index’s legitimacy. The Nikkei 225 is less a securities index than it is a measure of how much intervention the Bank of Japan feels like throwing its way. It’s what the Dow aspires to be when it grows up. At … continue reading →