Equity Bulls Probably Eyeing Wed’s CPI To Give Additional Boost To Weary Indices
If Wednesday’s CPI for April cooperates, equity bulls will try to use it to build on last three weeks’ momentum. Major US equity indices have rallied back to just under their all-time highs... READ MORE
CoT: Peek Into Future Through Futures, How Hedge Funds Are Positioned
Following futures positions of non-commercials are as of May 7, 2024. 10-year note: Currently net short 481.6k, up 48.7k. Non-commercials continued to add to net shorts in 10-year note futures. As of Tuesday,... READ MORE
After 2 Up Weeks, Major US Indices End Last Week Right On 50-DMA, Which Is Flat And Itching To Turn Down
After peaking in March and dropping in mid- to-high single-digit percent, the major US equity indices have rallied the last two weeks, ending last week right on the 50-day. A takeout of the... READ MORE
CoT: Peek Into Future Through Futures, How Hedge Funds Are Positioned
Following futures positions of non-commercials are as of April 30, 2024. 10-year note: Currently net short 433k, up 79k. In an FOMC week in which Chair Jerome Powell was anything but a hawk,... READ MORE
Dovish Message Likely To Ignite Positive Wealth Effect From Equities And Home Prices
Markets were on pins and needles as to if Powell would be open to the possibility of a rate hike. He hardly sounded hawkish Wednesday. A dovish message hardly helps cool down the... READ MORE
For Equities To Repeat Last Week’s Feat, They Will Need Help From Both FOMC And Tech Earnings This Week
In the latter part of last week, tech delivered, helping the major US equity indices rally big. Two issues could make or mar this week. The FOMC meets, and two more tech behemoths... READ MORE
CoT: Peek Into Future Through Futures, How Hedge Funds Are Positioned
Following futures positions of non-commercials are as of April 23, 2024. 10-year note: Currently net short 353.9k, down 8.1k. The FOMC meets next week. This is the year’s third scheduled meeting and five... READ MORE
Investor Sentiment Takes Hit, But Yet To Hit Meaningful Low To Signal Durable Bottom
After a ferocious rally from last October’s low, US equities gave back some of the gains this month. This has impacted bullish sentiment, but not enough to make a durable bottom in stocks.... READ MORE