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.
Inside Markets — Catalysts into a seasonally difficult period
Aggregate Tech positioning is now mildly underweight going into NVDA’s earnings report tomorrow afternoon, DELL earnings/guidance Thursday afternoon and AVGO earnings next Thursday (9/5).
Inside Markets — Pain Trade Skewed to Upside
The Fed’s concern is focused on labor market conditions and is nearly one-sided.
Inside Markets — Position Squaring
Position squaring into Powell’s Jackson Hole address accounts for today’s price action as there is some concern his overall message could sound more hawkish than the present narrative.
Inside Markets — Pain Trade
The last two weeks of August are characterized by low attendance, light volume and thin liquidity.