Inside Markets — Gradual Approach
Yesterday’s strong Tech rally followed comments from NVDA CEO Jensen Huang who discussed a trend toward densification and data center acceleration at a sell-side industry conference.
Inside Markets — Bearish Near-Term Bias
We keep a cautious near-term bias into a rolling corporate buyback blackout window that starts Monday and into a seasonally difficult period that usually extends into mid-October.
Inside Markets — ORCL Anecdote, SPX and SOX
ORCL’s earnings call may temporarily shift the AI narrative away from the recent ROI focus and back to large scale capex plans.
Inside Markets — Yield Curve
The yield curve steepening that’s occurred over the last two months has mostly been driven by lower short-end rates.
Inside Markets — Downside Targets
The SPX closed below its 50-day moving average yesterday with today’s jobs-induced pullback resulting in CTA de-grossing.
Inside Markets — Waiting Mode
The S&P 500 (SPX) is currently trading below its 50-day moving average at 5506 that CTAs often use as buy/sell triggers.
Inside Markets — Getting Ahead
Yen strength in yesterday’s session drove concerns for a carry trade aftershock.
Inside Markets — Technical Support
Today’s risk-off tone started with falling commodity prices in response to disappointing China manufacturing PMI.
Inside Markets — Seasonal Weakness Explained
Our bullish pain trade scenario will end as the corporate buyback window begins to close in mid-September.
Inside Markets — Bullish Recipe
It’s worth noting that NVDA shares may be ‘under-owned’ by the time of its earnings report relative to recent history.