Junk Bonds (JNK) rallied Friday, closing above the 50-week moving average. Then, today, JNK ran up to yet another new…
Continue ReadingFreddie Mac: Mortgage Serious Delinquency Rate increased sharply in June, Highest in 7 Years
Freddie Mac reported that the Single-Family serious delinquency rate in June was 2.48%, up from 0.81% in May. Freddie’s rate…
Continue ReadingMBA Survey: “Share of Mortgage Loans in Forbearance Decreases for Sixth Straight Week to 7.74%” of Portfolio Volume
Note: To put these numbers in perspective, the MBA notes “For the week of March 2, only 0.25% of all…
Continue ReadingOld Bear, New Trick
The S&P 500 recently got back to positive territory for 2020, with a year-to-date return of 1.4% as of July…
Continue ReadingWhere to Look for Initial Economic Damage if Disaster Relief is Inadequate
The GOP is scheduled to release their proposed Disaster Relief plan this afternoon. Based on early reports, their proposed package…
Continue ReadingSector Rotation Shows Weakness for Technology and Communication Services.
AFter Friday’s close we are facing a daily Relative Rotation Graph with some interesting (sector) rotations underway. Energy The Energy…
Continue ReadingDallas Fed: “Texas Manufacturing Recovery Continues” in July
From the Dallas Fed: Texas Manufacturing Recovery Continues Texas factory activity continued to expand in July following a record contraction…
Continue ReadingGold Futures Roll Date – August 2020
Friday, July 31st marks the first notice for the August Gold Futures Contract. GC Traders can roll to the succeeding…
Continue ReadingHigh Frequency Indicators for the Economy
Note: I’ve added a New York specific indicator – subway usage – at the bottom. These indicators are mostly for…
Continue ReadingThis Telecom Stock Seems To Be Giving Up…
The upper extended trend line shows that the Double Top breakout not only fizzled out, but the price action failed…
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