There has been virtually no movement in US stock futures overnight. The ES, 24 hour S&P futures are virtually unchanged from yesterday’s New York close at 3:30 AM New York time, about 30 minutes into the trading day in Europe. There was no movement…
Speculation has its own expiration dynamics, and they don’t depend on us recognizing speculative excess for what it is. They will unravel the excesses regardless of what we think, hope or deny.
After such a strong year for equities in 2023, it may seem odd to think that 2024 could pad those already healthy gains. There are, however, a couple of reasons (besides the government’s persistent aid of the stock market) to consider this mi…
The ES 24 hour S&P futures are holding at their uptrend lines here in the wee hours in New York. But the position is tenuous, as momentum has weakened, and prices are right at the trendlines. From 5 AM to the NY open, the key trendline will go from…
There are signs that this rally still has legs. There are also signs that the 4 year cycle is strengthening. The up phase ideally should…
Ah, it’s holiday week. So let’s party. I am behind the 8 ball this morning, so I will just post the hourly chart of the ES, 24 hour S&P futures to get this thing started before most of the guests arrive. In the meantime, I will work on finishing th…
Tracking total Primary Dealer financing, as reported weekly by the New York Fed, shows us the approximate level of risk inherent in dealer positions. This…
With their history in winemaking dating back not centuries but millenniums, Italy and France have always been at the pinnacle of the global wine industry. To this day, the two European countries are world leaders in viticulture, with their wines renown…
In what can now safely be described as a plateau in interest rates, the Fed, European Central Bank and the Bank of England announced their decisions this week to stick the levels they’ve now been sitting at for a couple of months.As this infographic sh…
When the United States and the European Union finally buried the hatchet in a long-simmering dispute over government subsidies to Boeing and Airbus in June 2021, wine lovers in the U.S. may well have opened a bottle of Bordeaux to celebrate. While that…