Markets have slowed down to a molasses pace, which is very good for those who’d like to not see 1% moves inside 30 min timeframes. We are of course still on edge, with numerous economic indicators now pointing towards contraction, in addition to plunging consumer confidence. The risk here is obvious: should the economy tailspin...Read More

After vacillating around the 200 for a week, markets finally broke loose today. But we are barely above it by 0.08%The next potential point of resistance, providing we keep going higher, can be the 50d ma, which is 2.7% higher from here. Our gains for the day did not match up to the broader indices...Read More

The main source of the volatility are the policy changes at the Federal level. These policies are being foisted by Sec. Bessent and Sec. Lutnick. To better understand what they intend to do, I found these recent interviews to be extremely informative. Whether this bet pays off remains to be seen. But they are revolutionary...Read More

An elevated VIX feels uneasy, the sort of tape we just endured the past 3 weeks. When below $20, things feel more orderly, sort of like today. It wasn’t a great day — but it wasn’t jarring. You almost didn’t mind the market being open for short periods of time. But when above $25 and...Read More

Yesterday’s tape was an abomination, today was nearly the inverse of that — with markets up thanks to somewhat conciliatory comments out of Powell, who reminded people that recession forecasters are rarely, if ever, correct. When I look at stocks like HOOD +7% at $42, I am reminded that there isn’t any rush to be...Read More