The Market’s Pulling Off Festivus Feats of Strength
The Fed straight-up stole Christmas. But that’s not the only game in town. I’m talkin’ Festivus… the Pole, the Airing of Grievances, the Feats of Strength… I’d bet the last two days have left unprepared traders with a lot of grievances to get out there. No grievances from my Three Trades a Week people -…
The Markets Are Turning Into the Nightmare Before Christmas
The markets got the hawkish version of Powell today… and the implication that there won’t be any more rate cuts. The big indexes don’t like Hawkish Powell, not one bit. They took his remarks “poorly.” And by “poorly” I mean “they jumped off a cliff.” So what had been a kinda-up day turned into a…
The Market Is Breaking Bad
It’s not looking great for the bulls - not that I’m complaining. Divergence continues to grow - weekly gains for the NASDAQ, losses for the Dow30 and S&P 500. The advance/decline line of what’s going up versus what’s going down continues to decline. The usual suspects in the Magnificent Seven were dead today - flat…
There’s a Big Divergence In the Market’s Mojo
S&P 500 - up. NASDAQ - really up. Dow30… down. When the big indexes or usually correlated assets stop moving together, that’s divergence, and it usually means something’s happening. Tech was absolutely screaming today, still pushing higher on Google’s “Willow” quantum computing narrative and overall optimism. And when you look at some of my usual…
Sector Defections Leave the Markets at a Crossroads
This is a weird market - and not funny “weird.” It’s like a really impressively tall house of cards… with a super-shaky foundation. Traders are clearly bullish about AI (what else is new?), the possibility of rate cuts, and earnings. But we’ve been hitting these all-time highs on the back of some of the most…
This Market Tech, More Tech, Nothing but Tech Right Now
When you’re trading, it pays (literally) to develop a list of “usual suspects” you can use to get a read on the market in a matter of seconds. Financials, energy, tech - those are a few of my usual suspects. What I see isn’t all that great… The other day it looked like Christmas came…
Christmas Came Early for the Markets
The last TheoNight update before December trading kicks off. Here's Don...
Is Tech Losing Its Edge? Big Moves Coming Next Week
This week, the S&P 500 has been hugging the upper edge of its expected move with precision, and next week’s $72 expected move in 3.5 trading days is aggressive for a holiday week. Meanwhile, tech is lagging—Microsoft is flat, and Apple, Amazon, and Google aren’t driving the market. Instead, financials and energy are stealing the…
It’s Nvidia’s Market - We’re Just Trading In It
I’m writing this in the weird netherworld between the cash close and Nvidia’s third-quarter earnings announcement… Surprisingly, equities finished higher today, despite some serious volatility. We’re getting consistent VIX readings above 17 and there were times during today’s session when it was knocking on the door of 19. Yikes. That gave us selling on rockin’…
You Need to Take This Selloff Seriously
Peanut the squirrel was a sign… When a crypto pegged to a martyred rodent hits a billion dollars in market cap, you know it’s a sign that the froth is getting ridiculous. And that’s what happened. Boom. A broad, brutal selloff. The S&P 500 off 1.5%; NASDAQ’s been hit 2.6%. Volatility’s spiking. While these dips…