Tech stocks continue to lead the market higher - a bullish sign given the sector’s tendency to lead. But there’s a setup I’ve been talking about lately; it’s beginning to taking shape and could be even more bullish for the foreseeable future. There’s a global flight to safety underway right now. The
Another day, another all-time high… Traders seem to have largely shrugged off the FOMC statements of last week - might as well have been 100 years ago. That press conference didn’t exactly deliver the goods for the bulls. Then again, this week features a number of speeches from Federal Reserve membe
Just a few minutes before the close this afternoon, the SPX was grinding right up against its expected move - a level we called days ago. So, no surprise there. The upside “grind” isn’t really the big story here. The thing that’s got my attention is divergence. It just keeps on widening. Tech is lea
The big indexes are just slightly off their recent all-time highs, but of course, not all stocks are doing equally well. My attention is on the energy sector right now, as tracked by the Energy Select Sector SPDR ETF, XLE. It’s down close to 1.5% over the five days, and the zoomed-in chart I’ll shar
Now this was a trading session! Today had it all - the Fed, economic data, volume… I’ve been at this for more than 25 years, and I have never seen the kind of trading in individual products that we’ve seen today. Let that sink in for a second. The markets exploded on cooler inflation numbers
The markets are facing some formidable headline risk right now… The FOMC will make a decision on rates (Europe and Canada have already cut) - and Jerome Powell will speak after the minutes are released. That alone would be enough to make anyone think twice, but to top it off, we’re getting some very
If ever there was a week that should be wracked by volatility, this is it… Market-leading AI/chip stock Nvdia just concluded a 10-for-1 stock split - if you owned one share last Thursday, you own 10 now. Historically, these splits aren’t all that kind to stocks. The AI stock is said to be “priced to
NVDA’s 10-for-1 stock split is in motion - traders who held as share at the close yesterday will get nine additional shares at the close today, and come Monday morning, the price will be split-adjusted down from $1200 to $120 or so. But that’s not the big story here, not by a longshot. The gamma
Tiff Macklem and the Bank of Canada moved to cut overnight rates 25 basis points this week. Then, today, Christine Lagarde’s European Central Bank cut Eurozone rates 25 basis points. So now everyone and their mother wants to know if Jerome Powell and the Federal Reserve are going to follow suit - so
