Why "It’s Hard Being A Bear"
Submitted by Joseph Calhoun via Alhambra Investment Partners,
You are here
S&P
U.S. Futures Slide, Crude Under $39 As Dollar Rallies For Fifth Day
Following yesterday's dollar spike which topped the longest rally in the greenback in one month, the prevailing trade overnight has been more of the same, and in the last session of this holiday shortened week we have seen the USD rise for the fifth consecutive day on concerns the suddenly hawkish Fed (at least as long as the S&P is above 2000) may hike sooner than expected, which in turn has pressured WTI below $39 earlier in the session, and leading to weakness across virtually all global risk assets.
Dollar Winning Streak Continues For Fourth Day Pushing Oil Lower; Futures Flat
Following two days of rangebound moves, where Monday's modest market rebound was undone by the Tuesday just as modest decline (despite the early surge higher on the latest "bullish for stocks" European terrorism), overnight equity action continued to be more of the same, and as of this moment S&P 500 futures were unchanged, while European stocks were modestly higher.
Blindly Dancing At A Top: A Statistical Look At The Rally
Submitted by Salil Mehta of Statistical Ideas
Blindly Dancing At A Top
A Desperate China Begged Fed For "Plunge Protection Playbook" As Its Market Crashed
Last June, China’s stock market miracle ended in tears.
The SHCOMP’s inexorable, parabolic ascent was to a large degree facilitated by an explosion of margin debt, the likes of which could not be found in any other major market across the globe. For instance, by the end of June, the outstanding balance of margin transactions as a percentage of the SHCOMP’s free float market cap was nearly 14% compared to just 5.5% for the S&P and less than 1% for the TOPIX.