Trading Block

Trading notes: It is FOMC day today, and while there is a 100% expectation, according to CME Group, that the Federal Reserve will cut interest rates by at least 25 basis points, what we don't know is the reaction. You can often times see strong reactions to the news of new rate cycles (i.e. when they

Trading notes: Can QQQ make it 10 straight days - while a rare feat, crazier things have happened, like a 20-day winning streak for META just earlier this year. Tomorrow we have FOMC, where it is expected that Jerome Powell will cut rates by 25 basis points. I think one of the big concerns here is that

Trading notes: QQQ is looking to make it 9 straight days of gains, and doing so even with overall market breadth of -2:1 like what was seen on Friday. It looks like the index is going back to its "flavor of the day" approach, where there is always one particular mega cap stock providing the

Trading notes: SPY is looking at a flat open after clawing its back from overnight lows. I'm becoming increasingly concerned about the sustainability of this current market run and whether it can continue without some form of a pullback first. Right now, price on SPY is two standard deviations above the 50-day moving average - a

Trading notes: While jobless claims rose more than expected, you also had slightly hotter CPI report than what was expected. Despite the initial reaction the pre-market, futures are essentially right where they were prior to the numbers being released. With the market internals showing much weaker strength than what the indices are showing here, it

Trading notes: PPI came in much cooler than expected and showed a contraction in costs at the producer level - even so, it has done nothing to change the September outlook of a 25bp rate cut. I also took another shot at energy yesterday as XLE showed a willingness to bounce off the rising trendline from

Trading notes: We get the annual employment revisions at 10am ET today, and it's a highly anticipated number that is coming out, offering up the opportunity to introduce some fresh volatility into the markets if it misses expectations. We also have PPI tomorrow and CPI on Thursday - so the week is loaded with economic news.

Trading notes: Weakening market internals or price action at all-time highs: which one is to be believed? My experience in the stock market has taught me that when the internals start to weaken, that it is usually a warning shot that all is not well. That can change if we can get a sudden about-face from

Trading notes: Employment came out and it missed expectations by a large amount, and June had heavy revisions, ultimately leading to job losses for that month. This sets the stage for a rate cut on the 17th, in fact the market is starting to price in the prospects of a 50 point cut, currently sitting at

Trading notes: With September being the historically the weakest month of the of the year for the indices - so I want to continue to tip-toe through this market as it hasn't shown any significant amounts of strength just yet, three days in, and even though yesterday finished higher, much of that came from GOOGL and