Dow On Pace To Creating History, Even As Sources Of Tailwind Stretched

posted in: Economy, Equities, Technicals | 0

The Dow Industrials is on pace to creating history this week.  Last Friday, it rose for 11 sessions in a row, for a cumulative gain of 3.8 percent.  The longest streak was recorded in January 1987 when it rallied 11 … Continued

CoT: Peek Into Future Through Futures

Following futures positions of non-commercials are as of February 21, 2017. 10-year note: Are we in for a March shock? Post-FOMC minutes on Wednesday, fed funds futures were pricing in a 32-percent chance of a rate hike in the March … Continued

Bulls Momentum-Drunk – Rightly So Thus Far – But Momentum Cuts Both Ways

posted in: Economy, Equities, Technicals | 0

Say what you want, equity bulls deserve kudos! There is an unprecedented bid under the market particularly since the election (November 8) last year.  The S&P 500 large cap index has nearly rallied 11 percent since!  The rubber band keeps … Continued

Record U.S. Crude Inventory + Non-Commercials’ Record WTI Net Longs – Bulls Face Crude Reality

Ten and counting.  That is the number of weeks spot West Texas Intermediate crude ($53.78) has now gone flat. Oil bulls hope this is consolidation before another leg higher.  Since oil bottomed at $26.05 on February 11 last year, it … Continued

CoT: Peek Into Future Through Futures

Following futures positions of non-commercials are as of February 14, 2017. 10-year note: On February 15, 10-year yields hit 2.52 percent before retreating.  That high tagged a declining trend line from December 15 when yields hit 2.62 percent intraday.  This … Continued

China’s Receding Treasury Holdings And 10-Year Yields

posted in: Credit, Currency, Economy | 0

China’s Treasury holdings rose by $9.1 billion month-over-month in December.  This comes in the wake of six consecutive months of contraction during which it sold $194.7 billion worth.  This was the first monthly increase since last May. Coincidentally or not, … Continued

FOMC Next Year To Look Whole Lot Different From This Year’s — With Repercussions

posted in: Credit, Currency, Economy | 0

The usual middle-of-the-road approach.  Federal Reserve chair Janet Yellen’s Humphrey Hawkins testimony to the Senate yesterday, that is.  (She appears before the House later today.) There were no hints as to if she was ready to vote for a rate … Continued

Amidst Elevated Optimism, Caution Hat Out

posted in: Economy, Equities | 0

Peak optimism? We are increasingly beginning to hear commentators/observers use that phrase in media interviews, articles as well as on social media.  Among other things, Charts 1 and 2 are probably to blame. In the latest week, Investors Intelligence bulls … Continued

CoT: Peek Into Future Through Futures

Following futures positions of non-commercials are as of February 7, 2017. 10-year note: On January 26, 10-year yields began dropping after hitting 2.56 percent, lower than the 2.62 percent on December 15 – hence lower highs.  In the meantime, they … Continued

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