The FOMC’s meeting gets underway today. Like most, this one seems very consequential. The Street is divided on whether or not the Fed has done enough to combat inflation as well as the necessity of a recession. continued for members… … continue reading →
According to Reuters, Microsoft’s Chief Executive Officer, Satya Nadella, and other Microsoft executives used the words “caution” and “cautious” at least six times during yesterday’s call. The stock, already locked into a falling channel from last November… …reversed its initial pop and is leading the broader indices lower this morning. Remember, MSFT is the second … continue reading →
Futures are essentially flat this morning after Friday’s OPEX panic to regain the 200-day moving average. continued for members… … continue reading →
Futures are up over 0.65% even as VIX has popped 6.25% in the after hours. What gives? There’s actually a lot of reshuffling going on this morning, with important implications for currencies and equities. continued for members… … continue reading →
Futures are up moderately as we approach the open, gaining back much of the losses suffered yesterday in the wake of a dismal pending home sales print (-4.0% versus -0.8% expected, the worst since inception in 2001.) Prices fell MoM for the fourth month in a row. At this point, it appears the bulls are … continue reading →
It seems the algos are content to hold the current line instead of rallying into the end of the year – this Friday. continued for members… … continue reading →
S&P futures are quiet this morning, back to even after being up about 30 points overnight.continued for members… … continue reading →
What the algos giveth, David Tepper (bearish) and Q3 GDP (+3.2% vs 2.9% est. and -0.6% last) taketh away. Futures are off sharply as we approach the open. 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 →
They’re all important, but this one carries extra significance due to the potential for a slowdown in rate hikes, or at least the commentary regarding one. Futures almost backtested the 200-day moving average overnight, but are now essentially flat. After all the excitement yesterday, our targets remain the same across the board. If anything, the … continue reading →