The S&P 500 finished lower for 5 consecutive days and after achieving resistance around the 2,800 level. This is the 6th, 5-day losing streak for the S&P 500 since the US election in Nov ’16.This is also the first one that didn’t have a single 1% drop on any of the 5 days during the…
It was a huge day of VIX trading on Monday with VIX options and futures volume soaring. The bottom line is that hedging programs were deployed on scale given the relative low level/inexpensive hedges that could be afforded and with the S&P 500 achieving the 2,800 level intraday. Most of the hedging activity and upside…
The market’s reaction to the release of the December 2018 monthly retail sales was just a reasonable excuse to pullback modestly on Thursday. December retail sales proved disappointing and missed average analysts’ estimates for a modest rise in the MoM data. For the month of December, the Census Bureau reported a MoM decline of 1.2%,…
On the heels of the State of the Union address Tuesday night, equity futures are pointing to modest decline at the open of trading on Wednesday. In assessing the SOTU address, we’re of the opinion it was rather innocuous with points of articulation that spanned from global trade to domestic political strife and found with…
Welcome to our latest State of the Market (SOTM). Please click the link to view the video. (58 minutes in duration) Outline: Introduction (0-3 minutes FOMC/Fed meeting, revert to data dependency, no rate hike, what was removed in statement, usual behavior of the Fed, market reaction to Fed, no catalyst for inflation via PCE Index…
The major averages were higher going into the Fed/FOMC rate decision announcement… and then they doubled their respective gains after the rate hike decision. The move in the market put an end to the Jerome Powell regime market trend of declines post the FOMC rate hike decision. What brought an end to this streak of…
By MAXA. CHERNEY TECH REPORTER: MarketWatch At the end of a 2018 filled with scandals and negative headlines, Facebook Inc. is expected to report its most profitable quarter in history. When Facebook releases results Wednesday after the closing bell, the empire of websites and apps controlled by the company is expected to report nearly $6.4…
The two biggest stories from Tuesday’s market trading came from the late afternoon Brexit vote, which failed to pass, and Netflix (NFLIX) choosing to raise prices. The bill was rejected by 432 votes to 202. The 230-vote defeat is thought to be the largest in U.K. political history. Following a controversial amendment, the U.K. government…
2018 could easily be characterized as the year that volatility came back into the market place due to Quantitative Tightening and geopolitical/macro concerns. Asset prices reached record levels in 2017 and through much of 2018, but as the Fed ratcheted higher its rate hikes (4 rate hikes in FY18) the market became increasingly fearful that…
Welcome back to the markets and what promises to be a very light trading day. U.S. equity futures are pointing to another negative open on Wall Street after the Thanksgiving Day holiday. Wednesday proved to be another bearish day even with the Dow Jones Industrial Average (DJIA) and Nasdaq (NDX) finishing basically flat and the…
