Michael Kramer's Comment & Analysis
A complete archive of Michael Kramer's articles, including current analysis & comment.
An interesting development occurred on Friday that bears are watching this week: the NYSE McClellan Summation Index fell below 500. From what I can tell, this is the first time the index has dropped...
The US dollar continued to rise on Thursday, with the index up about 60 bps to 98.45, extending Wednesday’s gains. It also pushed above the relative strength index resistance around 51,...
The US dollar was stronger on Wednesday, breaking through a trend line and now appearing to form a potential double bottom, with a clear bullish divergence emerging alongside the RSI. To confirm the...
Yesterday it was the S&P 500’s turn to fall, dropping 55 bps, while the RSP Equal Weight ETF managed to rise 12 bps. Round and round the market goes—where it stops, nobody...
The S&P 500 finished higher by around 45 bps, while the equal-weight RSP ended lower on the day by nearly 40 bps. It wasn’t exactly a great day for most of the market, though you...
Compared to last week, this one should be much slower. There are no central bank meetings and no major economic releases. The only notable event will be Micron’s earnings. Treasury will auction...
Maybe it’s just me, but lately the days have felt painfully long. It could be because the kids are off to school and out of the house by 8 a.m., which makes the days feel longer since I’m...
So the Fed cut rates, no surprise there. Really, there was nothing in the dot plot that was unexpected. Under Jay Powell’s leadership, the Fed thinks that neutral is around 3%, which is the...
Stocks finished relatively unchanged on Tuesday, with the S&P 500 down just 13 bps. Volatility measures, however, were very much on the move, with 1-month implied correlation higher, the S&P...
It was an odd Monday in the stock market, with the S&P 500 up, the RSP equal-weight ETF down, the VIX up, the VVIX up, one-month implied correlations up, and the S&P 500 Dispersion Index also...