• Tag Archives NASDAQ
  • ‘Bannon Bounce’ Fails To Correct ‘Cohn Crash’ As Nasdaq Drops For 4th Straight Week

    Well that was a week…

    Roller-coaster day for stocks – 2 overnight pump efforts failed; stocks sank into and beyond the US cash open, then went bid as Bannon headlines hit… only to slide as reality struck that with Bannon gone, the probability of war is considerably higher…and an ugly close into OPEX

    This post was published at Zero Hedge on Aug 18, 2017.

  • George Soros Is Betting Against U.S. Markets – Here’s What It Means

    This is a syndicated repost courtesy of Money Morning. To view original, click here. Reposted with permission.
    George Soros is betting against American markets.
    U. S. regulatory filings revealed that, as of June 30, the Hungarian-born hedge fund billionaire is holding put options – options he would profit from only if the underlying securities fall in value – on exchange-traded funds (ETFs) tracking major American indexes:
    PowerShares QQQ Trust (Nasdaq: QQQ) SPDR S&P 500 ETF (AMEX: SPY) iShares Russell 2000 ETF (NYSE Arca: IWM) These index ETFs represent the tech-heavy Nasdaq, the broad S&P 500, and the small-cap Russell 2000 indexes – three of the four major market indexes in America. And Soros holds put options on all of them, which means he’s banking on the failure of not just one or two companies, but the markets as a whole.

    This post was published at Wall Street Examiner by Money Morning Staff Reports ‘ August 18, 2017.

  • Tech Rally Internals Tank: Nasdaq Ratio Crashes To Record Low

    On an equal-weight basis, the Nasdaq 100 just dropped to a relative all-time low.
    There are countless ways to measure the level of participation in a stock market rally. By ‘participation’, we are referring to the number of stocks that are taking part in the rally. One way is to look at the market’s ‘internals’, e.g., advances vs. declines, new highs vs. new lows, etc. As an indication of good quality participation, we like to see a high number of each of the former vs. each of the latter. When that is not occurring, even as the indices hold up well, we say that the rally is ‘thinning’, or seeing a decreasing level of participation. We’ve published multiple examples of this internal weakness in recent weeks.
    Another way of measuring participation within a rally is by looking at indices on an equally-weighted basis instead of a cap-weighted basis. I

    This post was published at Zero Hedge on Aug 17, 2017.

  • Gold Seeks Interim High While Household Debt Grows Out Of Control | Golden Rule Radio

    The following video was published by McAlvany Financial on Aug 17, 2017
    Gold seeks an interim high while new reports show that household debt is way out of control. The US Dollar Index decline continues as the FED start speaking out about no further rates hikes in 2017 being a likely outcome. Germany challenges the ECB asset buys and goes to the European Court over it. We recap the price movements of Silver, Platinum, Palladium, The Dow Jones Industrial, S&P 500, NASDAQ, & DOW Transports. What financial indicators are on the horizon? Look no further than the Geopolitical circumstances surrounding the North Korean Nuclear Threat and domestically to Trump’s opposition in Congress & within the Senate. Will infrastructure, tax reform, and budget for the wall come to fruition or will Trump face further roadblocks? Thank you for listening, please submit your questions in the comment section below and subscribe to receive regular weekly updates on the Precious Metals Markets.

  • FOMC Minutes Signal Balance Sheet Normalization Begins In September, Most Saw Inflation Pick Up

    Since the July 26th ‘nothingburger’ FOMC statement, Nasdaq is down but bonds and bullion are higher as domestic politics and global war have trumped monetary machinations. All eyes in today’s Minutes will be on any mention of inflation and the balance sheet. The Fed sees inflation “picking up over the next couple years” but this came before last week’s dismal CPI/PPI data (and they noted “downside risks”), and confirmed that they will make a balance sheet move “at upcoming meeting.”
    Additional headlines:

    This post was published at Zero Hedge on Aug 16, 2017.

  • Stocks Push Higher Even as CEOs Flee White House Council

    The Dow Jones news today is highlighted by political turmoil in Washington, as U. S. President Donald Trump’s controversial remarks sent CEOs fleeing from his ‘American Manufacturing Council.’ Dow Jones futures are up 43 points this morning, as investors look for clues to the next interest rate hike after the release of the minutes from the U. S. Federal Reserve’s most recent meeting.
    Here are the numbers from Tuesday for the Dow, S&P 500, and Nasdaq:

    This post was published at Wall Street Examiner on August 16, 2017.

  • Stocks Rise despite Potential Trade War with China

    The stock market news today is highlighted by President Trump’s latest executive order threatening to crack down on China’s intellectual property abuses. Dow Jones futures are up 55 points this morning even though China threatened to take defensive action to protect its interests.
    Here are the numbers from Monday for the Dow, S&P 500, and Nasdaq:

    This post was published at Wall Street Examiner on August 15, 2017.

  • Beware The Dead Cat Bounce: “Exuberant Markets Can’t Escape The Shadow Of Negatives”

    Treasury yields have erased the knee-jerk losses from retail sales, Nasdaq is now tumbling, and gold is bouncing…
    This is not the market we saw yesterday that was relieved that the world had not ended and Bloomberg’s macro strategist Mark Cudmore is worried that it’s not over, warning that “exuberant markets can’t escape the shadow of negatives”
    Via Bloomberg,
    Risk assets have rallied sharply so far this week but there are sufficient flaws in the positive narrative to argue that the bears will likely inflict further pain on impatient bulls. On Monday, the S&P 500 Index had its best day in more than three months. With U. S. stocks the flagship risk asset, that good mood has spread across markets. I argued a week ago that the global market outlook had turned much more negative, so the strength of the (expected) bounce has taken me by surprise.

    This post was published at Zero Hedge on Aug 15, 2017.

  • Record Number Of Fund Managers Say “Stocks Are Overvalued” As They Rush To Buy Nasdaq

    Another month, another paradox emerges in the latest Bank of America Fund Managers Survey, which on one hand reveals that a record number, or 46%, of Wall Street respondents say stocks are “overvalued”…
    … even as the number of investors expecting a “Goldilocks” economic scenario of above-trend growth and below-trend inflation, hit a record high 42%…

    This post was published at Zero Hedge on Aug 15, 2017.

  • US Stock Buybacks In Biggest Slide Since The Financial Crisis

    In light of today’s euphoric market reaction, which has seen the VIX plunge by over 3 vols, or 20% lower, to just over 12 and sent both the Nasdaq and S&P higher by 1% on relief that there were no mushroom clouds of the weekend, the jury is out whether last week’s sharp risk off, short-vol mauling will persist or be just another BTFD opportunity. But while last week’s tension may already be forgotten, some disturbing trends persist. As SocGen’s Andrew Lapthorne writes, while the S&P trades near all time highs, the smaller cap Russell 2000 dropped a much sharper 2.7%, leaving this index up just 1.3% for the year and down 5% over the last couple of weeks on what we discussed last week was a growing concern for the US economy and companies who do not have exposure to international revenue.
    Furthermore, High Yield Credit also fell sharply. Along with the Russell 2000, HYG has also unwound most of this year’s positive performance in a matter of weeks. As Lapthorne writes, “in our view, high yield credit and the Russell 2000 are all the same trade with different wrappers. Their continued success is highly dependent on asset volatility remaining as subdued and debt markets as generous as they have been, both of which we think is highly unlikely.”

    This post was published at Zero Hedge on Aug 14, 2017.

  • Doug Noland: Doubled-Down

    This is a syndicated repost courtesy of Credit Bubble Bulletin . To view original, click here. Reposted with permission.
    ‘The real trouble with this world of ours in not that it is an unreasonable world, nor even that it is a reasonable one. The commonest kind of trouble is that it is nearly reasonable, but not quite. Life is not an illogicality; yet it is a trap for logicians. It looks just a little more mathematical and regular than it is; its exactitude is obvious, but its inexactitude is hidden; its wildness lies in wait.’ G. K Chesterton
    The S&P500 rose to a record 2,490.87 during Tuesday’s session at about the same time the VIX was trading down to 9.52. The DJIA reached a record 22,179 during Tuesday trading. At 5,973, the Nasdaq100 (NDX) was on track mid-day Tuesday for a record close. Tuesday saw the bank index (BKX) trade to a five-month high, with the broker/dealers (XBD) just shy of all-time highs.
    ‘North Korea best not make any more threats to the United States. They will be met with fire and fury like the world has never seen. He has been very threatening … and as I said they will be met with fire, fury and, frankly, power, the likes of which this world has never seen before.’

    This post was published at Wall Street Examiner by Doug Noland ‘ August 12, 2017.

  • Bezos Falls To 3rd Spot Among World’s Richest

    How fast the fortunes of the world’s richest shift: just two weeks ago, when AMZN hit its all time high on July 27, its CEO Jeff Bezos briefly surpassed Bill Gates as the world’s richest man for the first time ever, despite growing rumors and rumblings of regulatory pushback against Amazon which is rapidly emerging as the biggest monopoly threat to established legacy industries.

    Fast forward two weeks and Bezos is no longer the world’s richest man, he isn’t even the world’s second richest man because after yesterday’s market slump and Nasdaq plunge that drained $42.7 billion from the net worth of the world’s 500 richest people, the drop in Amazon stock…

    This post was published at Zero Hedge on Aug 11, 2017.

  • Are Internal Market Cracks Turning Into Chasms?

    Recently noted deterioration in market internals appears to be getting worse, as evidenced by this rare divergence in the Nasdaq market.
    One of the hallmarks of our intermediate-term Risk Model that helps orient our investment posture toward equities is breadth, a.k.a., internals. Internals measure the level of participation in the stock market, e.g., how many stocks are advancing versus declining, the number of new highs versus new lows, etc. The more participation there is, the broader the foundation for a market rally – and the more comfortable we feel being aggressively invested.

    This post was published at Zero Hedge on Aug 11, 2017.

  • Dow Jones News Today: Stocks Continue to Fall as North Korea Threatens ‘Enveloping Fire’ on Guam

    The stock market news today is highlighted by falling stock prices as tensions rise between Washington and North Korea. Dow Jones futures are down 48 points this morning ahead of earnings reports from brick-and-mortar retailers and major American brands. Traders will get to see how much Amazon.com Inc. (Nasdaq: AMZN) is impacting competition around the country.
    Here are the numbers from Wednesday for the Dow, S&P 500, and Nasdaq:
    Index Previous Close Point Change Percentage Change Dow Jones 22,048.70 -36.64 -0.17% S&P 500 2,474.02 -0.90 -0.04% Nasdaq 6,352.33 -18.13 -0.28%

    This post was published at Wall Street Examiner on August 10, 2017.

  • As VIX Explodes, A Painful Warning: The Vega Of VIX ETFs Has Never Been Higher

    With the VIX soaring, from single digits yesterday to over 15, risk is suddenly breaking out above the crucial Kolanovic redline level…
    And Nasdaq is tumbling.
    … it is worth reminding readers just how coiled the short-vol sector is, something we described two weeks ago in “If The VIX Goes Bananas” This Is What It Will Look Like” and in which a Morgan Stanley trader detailed how a devastating short vol unwind might develop:
    A violent rise in volatility could be driven by just a 3% to 4% one-day S&P 500 selloff. Right now the risk is greatest in the VIX complex, and demand for VIX futures from three main sources could result in 100,000 contracts ($100mm vega) to buy in a down 3.5% SPX move. For context VIX futures ADV over the last year is 230,000 (although has risen to as high as 700,000 in big selloffs).

    This post was published at Zero Hedge on Aug 10, 2017.

  • Stocks Catch A Bid On Report Trump’s Threat Was Improvised

    The S&P has caught a bid, and is now down just 0.1%, with the Nasdaq similarly wiping out most early losses, following a report that contrary to previous speculation that Trump’s bombastic “fire and fury” statement was a coordinated and pre-agreed upon indication of intent from the entire White House, it was in fact improvised. As the NYT writes, “President Trump delivered his ‘fire and fury’ threat to North Korea on Tuesday with arms folded, jaw set and eyes flitting on what appeared to be a single page of talking points set before him on the conference table at his New Jersey golf resort. The piece of paper, as it turned out, was a fact sheet on the opioid crisis he had come to talk about, and his ominous warning to Pyongyang was entirely improvised.”
    The NYT also adds that “in discussions with advisers beforehand, he had not run the specific language by them”, which has prompted a modest relief rally as it now appears that Trump’s widely reported statement was just another ad hoc outburst – in line with his daily Twitter rants – and one which will likely be moderated in future appearances after feedback from Trump’s advisors.
    To be sure, in the hours since, the president’s advisers have already sought to calm the situation, with Rex Tillerson assuring Americans that they ‘should sleep at night’ without worrying about an imminent war, as we reported earlier.

    This post was published at Zero Hedge on Aug 9, 2017.

  • Stock Market News Today: Stocks Fall as Trump Threatens North Korea with ‘Fire and Fury’

    The Dow Jones news today features stocks dropping after U. S. President Donald Trump threatened North Korea with ‘fire and fury’ if they continue to threaten the United States. Dow Jones futures are down 32 points as North Korea immediately responded by threatening U. S. military bases in Guam. Experts are concerned about Trump’s impact on U. S. credibility, while markets are growing more concerned about a full-blown nuclear crisis on the Korean Peninsula.
    Here are the numbers from Tuesday for the Dow, S&P 500, and Nasdaq:

    This post was published at Wall Street Examiner on August 9, 2017.

  • SocGen: Stock Valuations Remain “Remarkably High” Yet Nobody Cares

    As discussed earlier, with most traders taking the next 1-2 weeks off for vacation, global markets remain on auto pilot, hitting new all time highs overnight driven by strength out of China where reflationary spirits have returned after industrial commodities surged on speculation that the PBOC’s recent attempt to contain excess liquiduity have failed (explaining the 3 consecutive days of reverse repo drains). Meanwhile, as SocGen’s Andrew Lapthorne writes, global equity markets continue to move higher, with both MSCI Developed and Emerging adding 0.4% last week. DM Is now up 12.4% in 2107 and EM an impressive 23.8% higher.
    Most markets saw gains last week, with Europe playing catch-up, having tracked down or sideways for the last few months. In local currency terms, the Eurozone is still in negative territory over the last few months, but this is more than made up for by the strength of the currency, with the MSCI Eurozone index up 5% in USD over the same timeframe. That said there were a few soft patches. The Nasdaq was down, as was the S&P 500 on an equal-weighted basis. The Russell 2000 dropped 1.2%. Japanese small cap growth stocks also faltered with the volatile Mothers index falling 3.9%.
    Will the euphoria continue? For the answer look at the Euro. As SocGen’s Andrew Lapthorne writes, earnings momentum appears increasingly polarised, “with the US enjoying its usual reporting season bounce on the back of analyst upgrades, and both Pacific ex Japan and Japan seeing sharp improvement in analyst optimism.” However both Europe ex UK and Emerging Markets, the standout US dollar performers this year, are yet to see a pickup in upgrades, with downgrades remaining more common. A big reason for this is the recent surge in the Euro, which is fast approaching 1.20, the level beyond which analysts have said any further gains will have an adverse impact on earnings.
    What about fundamentals? Here there is far less confusion, and as Lapthorne writes, “stock valuations remain remarkably high, but as valuations alone tell us little or nothing in terms of market timing, it seems valuation concerns are increasingly ignored.”

    This post was published at Zero Hedge on Aug 7, 2017.