It’s the weekly commodity edition of What the FICC?
Today, we focus on metals and the differences between correcting though price versus time.
Check it out!
Expert technical analysis of financial markets by JC Parets
by Ian Culley
It’s the weekly commodity edition of What the FICC?
Today, we focus on metals and the differences between correcting though price versus time.
Check it out!
by Ian Culley
From the Desk of Ian Culley @IanCulley
We all learn how to fall – the sooner, the better.
As adults, we forget this is one of the first skills we learn early in life. For better or worse, my one-year-old reminds me daily.
He’s amazing.
Yes, I’m one of those proud, doting fathers. But his coordination and acrobatics keep both of us out of the pediatric ER (and me, the doghouse). He pops right up whenever he hits the ground and keeps chasing his older brother.
Pure gold.
Since my mind is always lost in the charts, his agility and doggedness remind me of gold’s resilience during the past two years.
From the Desk of Steve Strazza @Sstrazza
Equity markets around the globe are getting rocked as we close out another rough week.
And then there’s China, which is green on the day.
This isn’t just a one-day thing. In fact, it’s quite the opposite. China has been showing impressive relative strength since bottoming in late October.
Today is just a microcosm of what that leadership has looked like.
It’s had our attention for a while already, which is why we’re about to discuss the structural outlook for Chinese stocks and outline some long ideas in the strongest names.
by Peter
From the Desk of Willie Delwiche.
After unexpectedly good headline and core CPI prints for November, the stocks were caught off guard by unexpectedly hawkish forecasts on both rates and inflation when the Fed released its Summary of Economic Projections following Wednesday’s FOMC meeting.
Why It Matters: The market is used to looking at core CPI as a way to filter out inflation noise. The problem is that core CPI was created with political motives, not for economic clarity. The median CPI is a better tool for discerning underlying trends. Central tendency measures of inflation (like the median CPI) were slower to climb post-COVID but now show inflationary pressure persisting. This helps explain why the Fed is likely to remain in inflation fighting mode longer than the market now expects. The Fed’s record here is not without blemish. Pre-COVID they were overly focused on the core indexes and missed the building of inflation pressure. In 2012, both the median and core CPI showed inflation near 2.3%. Core CPI was still there in the summer of 2019, while median CPI was at 3.0% and at its highest level in a decade. The market is missing the Fed’s inflation message, after the Fed missed the mark on inflation by falling years, not months, behind the curve.
An All Star Options community member recently sent me an email asking about the Average True Range (ATR) indicator and whether or not it is helpful in ascertaining if options premiums are elevated or depressed in the underlying instrument.
For a pretty thorough explanation of what ATR is, here’s a blurb I found on macroption.com: [Read more…]
by JC
With the major indexes below overhead supply, you’re seeing the choppy action.
There are stocks continuing to do very well, like Homebuilders for example. And there are some stocks really struggling, like U.S. Banks.
But in the aggregate, at the index level, you’re seeing the grind. [Read more…]
by Ian Culley
It’s the weekly bond market edition of What the FICC?
Today we’re highlighting the breakout in bonds.
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by Peter
This is the video recording of the December 15th, 2022, Weekly Town Hall w/ Willie Delwiche.
12/15/22 2:00 PM ET [Read more…]