Simple comp between QQQ and IWM. Spread between the two reaching its highest level today with tech rallying and small caps underperforming. One theme that has been developing over the past month or so is whenever the Nasdaq makes a new record high, other indices fail to see the same follow through while virus headlines continue to worsen.
I’m not a single-stock type of trader. It’s never been my style and never been my strength. However, I do have a lot of thoughts about them and FB is always one of those companies I find myself talking about.
Before I get into it, I do want to channel some inner-AMZN Leadership Principles here. Frugality. It’s not about being cheap or spending less money - it’s...
It seems like we are approaching another critical point regarding the pandemic. While certain states were moving towards progressing in their reopening efforts, a string of record daily increases has reignited headline anxiety about a path forward. While FL, TX, and AZ are the states that are seeing the most attention, NJ, OH, and WA are becoming louder in the the...
Coffee finally seeing a breakout after spending most of June in a range. Sept. contracts finally seeing a close, albeit a small one, above the 100 mark. Temps in Brazil, along with some chatter about a frost, boosted prices today. Shipping delays are helping provide some near-term support as well. From a technical standpoint, prices closed almost right at the...
Corn breaking a range today with CN down to 317-2, way off the session highs. Weather pointing to a good start: dryer spots like Dakotas getting some rain. Outside markets also helping to push prices lower. Some supply estimates also point to YoY growth for production (Ukraine showing a 4M ton increase for 2020). Dec made a new contract low and momentum continuing...
Coffee range bound, but consolidating lower. Front month closing down well off the highs. Some follow through after the reversal earlier in the week. Demand remains soft and the continuing pullback from the BRL is putting more pressure on prices. However, slower harvests may provide some support. ICE stocks down ~4.2K bags.
Sept. S&Ps finishing at 3061.25, up over 50 pts from the lows. Surprised by how well equities held up today given the continuing headwinds from virus headlines. Fundamentally, jobless claims failing to inspire a lot here, DIS and M also providing some bearish news. Technicals tilting negative, most notably the failure to close above the 9-day MA and momentum...
