U.S. Stocks Futures +1.0% Bouncing after testing recent lows, no new lows so far. NQ weekly chart. PANW +11% pre-market after earnings DE -3% next support ~318 Big miss on Revenues: *DEERE 2Q NET SALES $12.03B, EST. $13.23B but Net ok: *DEERE SEES FY NET $7B TO $7.4B, SAW $6.7O-$7.10, EST. $6.99B OpEx today Big Picture […]
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Daily Comments – 19/05/2022
U.S. Stocks Futures -1.5% And retesting recent lows, risk-off with stocks down, bonds up, JPY up… Last week low on ES 3,855 and NQ 11,689 S&P500 Futures last 10 days. S&P 500 had on Wednesday its worst day since 2000: -4.04% and -4.73% for the Nasdaq with Retail getting destroyed on Inventories concerns and margins TGT […]
Daily Comments – 18/05/2022
U.S. Stocks Futures -0.2% Consolidation after last 3 sessions Rally Nasdaq Futures last 4 days. Eco: Housing Starts / Permits Earnings: $TGT *TARGET SEES YEAR OPER. MARGIN RATE ABOUT 6%, SAW 8% OR HIGHER *TARGET 1Q ADJ EPS $2.19, EST. $3.06 -15.0% pre-market $WMT worst day since 1987 Big Picture […]
Daily Comments – 17/05/2022
U.S. Stocks Futures +2.0% Risk-On across asset classes EURUSD 1.0494 USDCNH 6.7563 VIX 26.67 … S&P Futures last 2 days. OpEx week ES VWAP since last expiry = 4,165 Last 3 days = 4,005 Last 20 days = 4,148 Fed Speakers: Bullard, Harker, Kashkari, Powell Earnings: $HD $WMT *HOME DEPOT 1Q COMP SALES […]
Daily Comments – 16/05/2022
U.S. Stocks Futures -0.3% Worst than expected Chinese data. J.P. Morgan: “On China, the key cause of this morning’s sharp reversal in markets, the near term outlook unfortunately continues to look murky as a consequence of the recent COVID lockdowns and still, what is largely being view as the market, as insufficient policy easing.” JPMORGAN […]
Banks… hmm…
Since the coronavirus breakout and the following lockdowns, there is no doubt that Banks have been massively hit. But there might be more to come. First, with the deterioration of the economy, many Banks will have to build more reserves for credit losses. As JP Morgan underlined during its latest earnings, “provisions for credit losses […]
Stocks: from one extreme to another.
The Stock Market has been on a tear since the lows on the 23/03/2020. What happened on the same day? The Fed announced QE Infinity. Simple coincidence? I guess not. Technology companies have been outperforming the market with some big moves across the Technology Sector. The Nasdaq Composite is up 1.7% for 2020 and is […]
Black Swan FX Trade
Recently, the Oil Market has experienced a Black Swan Moment: collapsing demand, contango issues, storage scarcity, technical forced sellers, ETF dislocation ($USO)… All of this translated into this infamous move with negative pricess. To be perfectly clear, it was mainly driven by technical factors on contract expiring and forced sellers as storage was […]
Before the open II
2/3 weeks ago I did a post on the different performances across asset classes and sectors in the middle of the coronavirus / lockdown crisis. Yesterday the S&P 500 Futures broke the 2635 level on the upside. We have resistance around 2730-2750 and bigger ones at 2800-2815. I always like to know what is moving […]
“Chart Porn”
Five weeks into Financial Dislocation. Below are charts showing the extend of what is happening, but there are many more with some more relevant than others. Feel free to add yours in the Comments Section. In no particular order: Initial Claims. Source Fred. Fed Balance Sheet – Fred. Volatility Index – Vix […]