While the Dow Jones Industrial Average (DJIA) took a breather on Tuesday, falling .3%, the Nasdaq (NDX) rose by .25% and apparently nobody showed up for the S&P 500 (SPX) or its closely correlated Select Sector Spiders ETF (SPY) With the S&P 500 finishing almost exactly flat on the day, SPY had its lowest trading…
Global equities found a sharp risk-on rally as rounds of economic data from China and the United States positively spurred investor sentiment. After a marked improvement in China’s PMI data, the U.S. released both monthly retail sales and ISM manufacturing data. Before getting into the U.S. data, let’s briefly take a look at how China’s…
Welcome to our weekly edition of State of the Markets. Please click the following link to review our take on what is moving the markets and what to expect within the context of portfolio positioning given the macro-fundamental backdrop!Outline: Outline: Introduction to State of the Markets. Briefly touch on market volatility, VVIX broke above 100…
Everyone and I do mean everyone has their eyes, ears and whatever other body part tuned into the bond yield curve (YC). The following intraday chart identifies the movement of the S&P 500 (SPX) and 10-yr. Treasury yield (TNX) for March 27, 2019. (Blue = SPX, pink = TNX) With the near dated end of…
Some lackluster days in the equity markets, roiled to some degree by concerns over the bond yield curve inverting (3-month/10-year), found investor appetite once again. Equity markets surged on Tuesday, with the benchmark S&P 500 leading its peer indices higher and with a gain of .72% on the trading day. It was an uneven day-trade…
After a bond market panic that pervaded equity markets on Friday, the rather flat performance for U.S. equity markets on Monday was a welcome site to many on Wall Street. The Dow Jones Industrial Average (DJIA) finished slightly higher on Monday while the S&P 500 (SPX) and Nasdaq (NDX) finished slightly lower on the day. …
It’s not for a lack of effort, but the S&P 500 has only been up on 1 of the 9 FOMC days during Powell’s rein over the Committee. Initially, and traditionally some might say, the market responded positively to the sharply dovish move announced by the FOMC on Wednesday…then it completely reversed course and the…
It’s that time again, FOMC rate hike announcement day. While there is almost no probability of a rate hike today, the more consequential press conference and dot plot will likely sway investors’ sentiment. With Jerome Powell at the helm of the FOMC and having chaired the committee of Federal Reserve Presidents over the last 8…
Are equities about to fall from grace after a seemingly prolonged rally? If you ask two prominent analysts, they seem to believe “the end is near”. The S&P 500 has extended its New Year rally into the current week and after breaking through and closing above a key resistance level last Friday. The feat of…
Welcome to this weeks rendition of State of the Markets with Wayne and Seth. Please click the link to review the video, which is one hour in duration. Outline Introduction to SOTM with conversation on market volatility. Front month contango of 10%+. Greater focus should be on back month/m2 given VIX Futures expiration and roll…
