It seems Santa is not coming to town this year. We received economic data that were better than expected, and the market sold off on fear that FED may tighten more because the economy is good. It is silly. On the one hand, the investors are panicking on fear of the US economy going Continue reading →

  The market continued higher, as expected. In the morning, we had some sideways moves and rallied toward the end of the day (the media told us that the rally was thanks to Nike… maybe). But we saw a few other technical coincidences that convinced me that this rally was not just because of Nike. Continue reading →

  The market performed as expected today, although not exactly as per the script. Most of the selling happened overnight. The market opened with a down gap but then rallied since then. The rally was muted, however. It was a bit surprising to me since we had a newsless environment and negative sentiment. As we Continue reading →

  This market is completely news-driven, better say sentiment-driven, because as of now, there are no news but negative sentiment and fear about a recession which may not even come at all. After some initial positive upward movement in the morning, the market quickly turned negative and ended down 0.9%. And the future do not Continue reading →

  The market continued its sell-off (and unfortunately, it will continue). The investors are now looking at the FED’s damage to the economy. If retail sales were a miss, you would think that it was good news. The FED may finally pivot. But it is no longer the narrative. It is now evidence that the Continue reading →

  So we had a large failure and kneejerk reaction to yesterday’s Powell’s speech, supposedly to retail reports miss and who knows what else. At some point, the market was down 3%. What happened to JP Morgan’s prediction of a large rally if the CPI comes back lower? Now the market sits at the support, Continue reading →

  Today, the FED announced increasing rates by 0.50% and the markets went initially up but then sold off hard on Powell’s remarks about potentially higher hikes next year. Investors were worried that this speed and tightness may destroy the labor market and sink the economy into recession. Though the VIX futures term is still Continue reading →

  The market reacted with a huge jump at the opening after the CPI report indicated easing inflation. It jumped up 2.23%. But then it started a selloff, and the market declined the rest of the day. It erased all gains finishing up 0.73% only. Quite disappointing price action. But obvious one. We have had Continue reading →