The first quarter of 2019 was a smash hit for bulls. Capitulating central banks, record buybacks flushing the system with artificial liquidity, constant jawboning by dovish central bankers and permanent promises of […]
Decision Time
Two Faced
My take here: The budget is blowing up in their face and they know it. The tax cuts did not pay for themselves and deficits are ballooning, federal spending is the highest […]
The Ghost of 2001
By now you’ve probably read a gazillion opinions on the inverted yield curve and seen a ton of analogs being discussed. On the yield front the general bullish consensus seems to suggest […]
The Reckoning
The big macro wheels are turning and everybody better pay very close attention. The Reckoning is coming. Best hope for a substantive China trade deal and a last minute save on Brexit […]
Deception
We’re back in the phase of markets where bears look like idiots and bulls look like geniuses. In 2018, following the US tax cuts, a growing economy and expanding earnings had bears […]
Coming: $VIX launch
Here we go again. The great volatility crushing of markets that happens when markets levitate relentlessly and everyone gets bullish, but don’t let the calm waters during this OPEX week fool you, […]
The CONfidence Game
The global economic landscape remains weak yet there appears to be no concern on the side of bulls and investors alike, so firm is the belief that the earnings recession that is […]
The Danger of New Lows
In last week’s Weekly Market Brief I made the case for a coming $VIX spike: “With a $VIX now at 13.5 and a big open gap at 24+ the $VIX is setting […]
Curb Your Enthusiasm
As promised a bit more color to some comments I made this morning on CNBC. Look, I’ve been pretty clear I think: The trifecta of dovish central banks, record buybacks and the […]
Chart in Focus: $TRAN
Anyone watching the trannies? Some interesting things going on there related to timing, structures and patterns. Firstly note that transports ($TRAN), like the larger market has embarked on an aggressive “V” shaped […]
Chart in Focus: $RUT
Just sharing some technical observations here, found the $RUT of interest today namely because it is the one major index that seems to struggle with its 200MA. Remember small caps led in […]
$VIX Crush
Every week the village gathers and watches the regularly scheduled public crushing of Mr. $VIX. It doesn’t matter what happens in the world during the week, it doesn’t matter what economic reports […]
