Treasury Notes Overdue for a Bounce

The current collapse in 10-year Treasury notes and the accompanying explosion in yields is breathtaking. We’ve been trading futures and options since 1984.  We cannot remember seeing anything like this in what is typically a… Read More

Euro Is on Sale

Heading to Europe this summer? You may be in for a pleasant surprise; the euro is on sale. At just 109.00 to the dollar, the euro is approaching lows made during the 2020 Covid collapse…. Read More

Contrarian Call in Corn

Weather and war are fueling powerful bull markets in corn. Huge amounts of North American corn are used to produce ethanol which is mixed into gasoline. What really intrigues us right now is the relationship… Read More

Downside Target Hit in T-Notes: Exit All Puts

The luck of the Irish came a day early yesterday. June T-note futures hit and then dipped below our most recent downside target of 124-00 before recovering after the Fed’s announcement of a 25-basis point… Read More

War Puts S&P Within Range of 4000 Target

The rumblings of war in Europe grow louder. Vladimir Putin’s decision to recognize the two breakaway provinces of Donetsk and Luhansk as independent territories adds to growing evidence of his determination to attack Ukraine. The… Read More

Blow-Off Top in Beans?

Soybeans started today’s session strong. Follow-through buying from yesterday’s bullish World Supply & Demand Estimate (WASDE) release sent prices right through last May’s $16.23 per bushel high with ease. The USDA reduced estimates for both… Read More

“Don’t Fight the Fed” Redux

“Don’t fight the Fed,” should be the operative rule in the S&P 500. Jerome Powell and Company signaled they were going to take the free-money punch bowl away. The told us they were going to… Read More

Capitulation or Collapse in S&P 500?

The S&P 500 is getting absolutely crushed as we write this 2 hours before the close on Monday. The CME E-mini futures just bounced from a low of 4212 – a decline of 4% from… Read More