What is the Oil Market Indicating After Biden’s SPR News?
Today, the Biden administration announced that they would be releasing 50 million barrels of oil from the Strategic Petroleum Reserve (SPR). They also announced a coordinated release between the U.S., India, Japan, Republic of Korea and the U.K. That sounds really bearish for oil, right? If that’s the case, why are oil and oil stocks…
Fed Chairman Powell Retained as Investors Search for Their Happy Place
Biden announced that he will nominate current Fed chairman Jerome Powell for another term. The S&P 500 turned bidless into the close as gaming stocks fizzled (EA, ATVI) and DIS pulled their annual membership for Walt Disney World…
WFC Option Traders Go Bear as Bidless Beast Appears
If you were following the market into the close, things didn’t exactly go that smoothly for the bulls as the "bidless beast" appeared and the S&P tested new lows. Prior to the sell-off, Wells Fargo & Co (NYSE: WFC) saw a large option trade appear that put in it’s top about 30 minutes before the…
Does Tech Dominance Create Systematic Market Risk?
Market are owned by TSLA and NVDA-- -Financials down 1% -Energy off 3.9% -DOW off 230 points -Spuz massively unchanged! -Even AMZN and GOOGL down did not negatively impact NASDAQ -internals and overnight /ES trade do not matter! -massive rotations may take place if big tech sells off Profound Market Moves-- -QQQ -IWM -TSLA Markets…
Tech Surprise Leads to All-Time Highs...While Most Stocks outside Tech Fall
Today is another "tale of two markets" where surprise bullishness on earnings from Nvidia (NVDA) coupled with news driving Apple (AAPL) and Amazon (AMZN) higher pushed the NASDAQ and QQQ to new all time highs along with some other tech stocks. However, on the other side of the market, weakness continued as sectors and stocks…
Bitcoin Taproot is Live & Here’s What You Should Know
The activation of Bitcoin's Taproot upgrade went live this week. The update comes just as it appeared that Ethereum was about to overtake Bitcoin. Taproot represents the largest update in four years and sets the stage for Bitcoin smart contracts. The upgrade is a big deal for Bitcoin and may maintain its preeminence in the…
Change at the FED and a Cooling Market?
Markets continue sideways action with notable exceptions like AAPL. Changes at the FED is an unknown and the markets don't like unknowns. Could bulls be waiting to get confirmation on the FED before they feel comfortable buying again?
Earnings, Strong Stocks at Highs, and Rivian (RIVN): What's in Play this Week?
The SP500 fell a few points shy of a new all-time high as key leading stocks did break to new all time highs. Which stocks outperformed the market to break new highs, which key major stocks (including one key one) report earnings this week, and what's up with Rivian (RIVN)? Plan ahead this week in…
Massively Unchanged Finish Hides Strength in Utilities and Energy
Not exactly the most exciting day as the major market gauges finished massively unch'd or rather unchanged. While the market is treading water, the Utilities and Energy sectors finished strong along with other significant option activity. (PINS, MNST, PAGS, CLOV, APP, XLE, XOP)…
Is Big Tech All that Matters in Markets?
Tech's domination--How dominant is tech in the SP500-TSLA-NVDA-Rotation within the sector-loss of market internals Inflation, CPI, consumer sentiment--Bonds/rates-Gold-Dollar Volatility Update--/VX contago is stellar-VVIX-SKEW Market at Fever Pitch--Options Volume-RIVN - 110 billion market cap SPX Expected Move--last week-- 62.51 (expected move)--next week-- 60.41