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Our View It was a pain game for the bulls on the way down and a pain game for the shorts on the way up. According to FactSet, the rally has not stopped traders from making short bets or hedging as short positions in the S&P futures are at the highest since June 2020. When
Our View It was a pain game for the bulls on the way down and a pain game for the shorts on the way up. According to FactSet, the rally has not stopped traders from making short bets or hedging as short positions in the S&P futures are at the highest since June 2020. When
Our View Many traders think the stock market has made its low for the year and point to the Nasdaq's 20% climb since the middle of June as their proof. They say the “longest bear market” since 2008 is over and point to the recent jobs report and last week's drop in the consumer price
Our View I would not call yesterday's pullback a win for the bears. After a gap up and rip to 4060.50, the ES fell ~58 points down to 4202.75. Despite $2.4 billion to sell on the MIM, the ES rallied. Bonds fell (hard) and crude oil rallied along with beans, wheat, and corn after Lebanon
Our View The ES fell yesterday, but unlike Monday's weak close the ES rallied on yesterday's close. The PitBull won our “battle” yesterday — re (from Tuesday): “The PitBull told me he's “got a sell signal in the ES and a buy signal on the VIX.” Who’s going to be right?”— but I am not