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An Autopsy of Lowest Selling Pressure EVER: S&P 500, NASDAQ 100 and DJIA Futures DataViz

E-mini S&P 500 Futures (ES)   Based on candlestick wick analysis and data across all three primary US futures contracts, there is less selling pressure than ever before. Not since xyz, not since insert year here… there is less selling pressure than ever.  But everything’s awesome, right?  Just BTFD, right? If ‘real technical analysis’ was […]


Bitcoin Soars After CFTC Approves Futures Trading: First Trade To Take Place Dec.18

Bitcoin is back over $10,000 after the the CFTC confirmed what had been previously reported, namely that it would allow bitcoin futures to trade on two exchanges, the CME and CBOE Futures Exchange, also granting the Cantor Exchange permission to trade a contract for bitcoin binary options. The CFTC announced that through a process known […]


11 Charts Exposing The Madness Of The Stock Market Crowd

Authored by Liabridge Economic Research's Atle Willems, Summary There’s more to stock market valuations than the current level of interest rates. In this article, 11 charts are presented which expose the extraordinary level to which stock prices have dislocated from a range of economic aggregates. The height of these charts should send shivers down the […]


US Oil Rig Count Rises Most In 3 Months

With US crude production having rebounded back to near cycle highs in its lagged response to the oil rig count, this week's rebound in the oil rig count (+6 to 750) is notably the largest addition in almost 3 months. As Bloomberg details, explorers renewed their search for U.S. crude as oil entered a bull […]


WTI/RBOB Sink After Surprise Gasoline Build, Crude Production Rise

Amid record crude exports, DOE reported a surprise draw for crude inventories and surprise build for gasoline inventories which along with another rise in crude production sent both WTI and RBOB lower in the initial market reaction.   DOE Crude -1.85mm (+3.1mm exp) Cushing +1.18mm (+750k exp) Gasoline +1.1mm (-1.1mm exp) Distillates -814k (-2.05mm exp) […]


Africa’s Richest Man: Oil Is Not The Way Forward

Authored by Irina Slav via OilPrice.com, The richest man in Africa says crude oil prices would do Nigeria a favor if they stay lower for longer. Last week at the UN General Assembly, Nigerian billionaire Aliko Dangote, whose main business is in cement but also holds interests in agricultural commodities and petrochemicals, said that agriculture […]


WTI Pops Back Above $52 On Unexpected Crude Draw

WTI is hovering around $52 as all eyes are watching API’s data to gain inisght into how fast refiners are coming back on line. The previous week saw the trend of crude builds and product draws continue but last week crude actually drew down (against expectations of a build), gasoline built (against expectations of a […]


Techs Wrecked, Financials Falter As Korean Threats Spark Gold Gains

Well that all escalated rather quickly… Brent spiking (Kurds and Korea), Gold spiking (Korea), AAPL tumble (weak orders), FANG bloodbath… large into small and growth into value. The day's broad activity was driven by North Korean headlines which sparked a bid for gold (and early anxiety over Europe after Germany's election)…   Gold regains the […]


You Can Only Choose One: Cheap Oil Or A Weak Dollar

Authored by Charles Hugh Smith via OfTwoMinds blog, When the price of oil rises to the point of pain, just remember the handy-dandy discount mechanism: a much stronger US dollar. Glance at this chart of the trade-weighted U.S. dollar, and note the swing highs and lows in the price of oil per barrel around each […]


Brent Crude Spikes To Highest Since July 2015

North Korean war-talk has extended early gains for Brent Crude (driven by anxiety over the post-Kurd-referendum fallout), pushing prices to their highest since July 2015.   To the highest since July 2015… As Bloomberg reports, Kurdish oil supplies may be in jeopardy as Turkey, Iran and the Iraqi central government in Baghdad sought to isolate […]


WTI Hovers Above $50 As US Oil Rig Count Slides To 3-Month Lows

With crude production rebounding back to pre-Harvey levels, and refinery demand coming back on-line, WTI has trod water around $50 all week. The US oil rig count dropped for the 6th straight week (down 5 to 744), back at its lowest level since early June. *U.S. OIL RIG COUNT DOWN 5 TO 744 , BAKER […]


WTI/RBOB Drop After Smaller-Than-Expected Gasoline Draw, Big Crude Production Rebound

API data (smaller than expected build) and a weaker dollar have supported WTI overnight but as the DOE data hits, we are reminded that the impact from hurricane season lingers. WTI/RBOB prices kneejerked lower after DOE reported a bigger than expected crude build and a gasoline draw that was considerably smaller than API's reports. Crude […]


WTI/RBOB Jump After Smaller Than Expected Crude Build

After last week's record-breaking draw in Gasoline stocks, and big crude build, the noise from Harvey and Irma disruptions continues to add volatility to the data. API reported a smaller than expected crude build and bigger than expected gasoline (and distillates) draw sent prices for both WTI and RBOB higher.   API Crude +1.43mm (+3.9mm […]


Tech Tumble Spooks Stocks (Briefly) As VIX Curve Steepens To 7-Month Highs

"A day above ground is a day to buy stocks…"   Trannies were weakest on the day as dip-buyers rescued stocks from red after a mid-afternoon slump…ugly close   Futures show the overall trading a little better – weakness from the EU open, a panic-bid at the US open, big selling pressure mid-afternoon, then rescue […]


WTI Crude Fails At $50 Again As Rig Count Tumbles Most In 8 Months

As Texas slowly normalizes from Hurricane Harvey's impact, production has rebounded but the rig count continues to tumble (down 7 to 749 this week). This is the biggest weekly drop in oil rigs since Jan 2017 and June 2016. WTI Crude futures have once again tested $50 (and failed) this morning. This is the 5th […]