October 20th, 2023 I won’t be around for the open today, but here are my thoughts. Yesterday, the bears had multiple opportunities for a capitulation-type move into the close, but they just couldn’t get it done. It would’ve provided a clearer picture for today. The fact that we’re gradually moving lower in a controlled manner […]
October 19th, 2023 The bears are currently in control of the market, but in the bigger picture it is a two-way tape. It’s important to note that interest rates are rising across the board. The 30-year rate is above 5% and the 10-year rate is approaching 5%. This is not a positive sign for stocks. […]
Geoeconomics: The Crossroad between geopolitics and economics
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October 18th, 2023 The bears have the momentum. The first thing I noticed this morning is how the 5-day moving average in ES (4387.50) is turning downward, and we had another close below my neutral level of 4006.50. Similar action in the NQ as the 5-day MA (15,237) has turned downward, and this morning we’re […]
October 17th, 2023 This morning, we have a tug of war between technicals within the indexes and the market leaders, namely interest rates. The daily charts have been consistently showing the same pattern over the past several sessions. The ES is currently slightly below its 5-day moving average (4388.75) and my neutral area of 4406.50. […]
October 16th 2023 As the markets avoided a selloff on Sunday night due to a lack of headlines for the bears to push us lower, let’s turn to the charts and assess how the market is positioned for the day. First, let’s address the headwinds: the Russell 2000 weakness continues and 10-year yields are slightly […]
October 13th 2023 As the week comes to an end, we have a tricky day ahead. Yesterday, there was a midday rally in 10-year yields, causing a decent selloff in ES. This morning, the 10-year yield has almost returned to its starting point, which is why we’re seeing ES rise again. I’ve been emphasizing the […]
October 12th 2023 The CPI numbers are out, and now it’s time to see how the market reacts. Rates are flat on the long end and slightly up on the short end. This shouldn’t have a major impact on stocks, but it’s still worth keeping an eye on them throughout the day. Speaking of technicals, […]
Unveiling Uranium w/ Marin Katusa, Mark Nelson and Amir Adnani!
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October 11th 2023 The market opens around a neutral area of 4406.50, well above the 5-day moving average (4343.25). Bulls seem to have the momentum, but expect a lot of back and forth in this neutral spot. I maintain a bullish position, but foresee a two-way tape until multiple daily closes appear above 4406.50, which […]