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 →
Tag Archives: VIX
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 →
Greetings from Anegada, British Virgin Islands. We continue in vacation mode, with the next post planned for Thursday, May 16. The markets continue to track our forecast, with breakouts in equities and currencies and a breakdown in VIX. Oil and gas continue to hint at a breakdown, buy this remains a wild card. continued for … continue reading →
This is the fourth time in a row that ES has pushed back into the rising channel from which it previously broke down. This one is more important, however, as it has the 50-day moving average in its sights. As we discussed last week, all the stars are aligned should the algos wish to pursue … 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 are off sharply on a very stagflationary offering of economic data. Q1 GDP rose at only 1.6% versus expectations of 2.4%, while core PCE prices rose 3.7% against expectations of 3.4%. The PCE index itself is due out tomorrow. Meanwhile, the Labor Department reported that unemployment claims for the week ended April 20 came … 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 →
Gold and silver both came within 1% of our upside targets for them earlier this week. With inflationary pressures once again top of mind, have they exhausted their upside potential? We’ll update our long-term forecasts this morning. continued for members… … continue reading →
Retail sales came in roughly double the Street’s estimates at 0.7% versus consensus of 0.3-0.4%. Ex-auto was just as strong: 1.1% versus 0.5% consensus. Combined with an Empire State Manufacturing index disappointment of -14.3 versus -6.0 expected, futures sold off for all of 30 seconds or so before rebounding to higher highs. The retail sales … continue reading →