US STOCKS: Late Equities Roundup: Triple Witching, Well Off Early Lows
Mar-21 19:03
- Major US indexes have see-sawed off early session lows Friday into the first triple witching expiration of 2025. In light of Pres Trump's reciprocal tariff "Liberation Day" that starts April 2, the bounce off lows was more position squaring related ahead of the weekend than going long risk as global trade remains uncertain.
- Currently, the DJIA trades down 83.96 points (-0.2%) at 41870.24, S&P E-Minis down 17.25 points (-0.3%) at 5696, Nasdaq down 9 points (-0.1%) at 17683.24.
- Communication Services and Consumer Discretionary sectors helped lead the rebound in the second half, interactive media and entertainment supported the former: Meta Platforms +1.50%, Fox Corp +1.17% and Electronic Arts +1.02%.
- Tesla +4.47%, Norwegian Cruise Line Holdings +1.94%, Deckers Outdoor +1.77% and Ulta Beauty +1.45% led second half gainers in the Discretionary sector.
- Materials and Energy sectors underperformed in late trade. Weighing on the former: Nucor -5.84%, Steel Dynamics -2.87% and Amcor -2.52% while Texas Pacific Land -6.79%, Phillips 66 -2.56% and Valero Energy -2.17% weighed on the Energy sector.
- Other notable laggers: FedEx Corp -6.17% after missing earnings, while NIKE Inc -5.47% and Lennar Corp -4.05% despite beating expectations.
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MNI: FED MINUTES: WANT FURTHER DISINFLATION BEFORE NEXT CUT
Feb-19 19:00
- FED MINUTES: WANT FURTHER DISINFLATION BEFORE NEXT CUT
- FED: CAN TAKE CAREFUL APPROACH ON CUTS GIVEN UNCERTAINTY
- FED SAW INCREASED UPSIDE RISKS TO INFLATION IN JAN MEET
- 'VAST MAJORITY' OF FOMC STILL BELIEVES POLICY RESTRICTIVE
- VARIOUS OFFICIALS-CAN SLOW OR PAUSE QT DUE TO DEBT TALKS
- TRADE, IMMIGRATION COULD HINDER DISINFLATION PROCESS-FED
EURGBP TECHS: Pivot Resistance Stays Intact For Now
Feb-19 19:00
- RES 4: 0.8474 High Jan 20 and a key resistance
- RES 3: 0.8420 76.4% retracement of the Jan 20 - Feb 3 bear leg
- RES 2: 0.8388 61.8% retracement of the Jan 20 - Feb 3 bear leg
- RES 1: 0.8347/78 50-day EMA / High Jan 6 and pivot resistance
- PRICE: 0.8278 @ 16:09 GMT Feb 19
- SUP 1: 0.8266/8248 Low Feb 19 / 3 and bear trigger
- SUP 2: 0.8223 Low Dec 19 and a key support
- SUP 3: 0.8203 Low Mar 7 ‘22 and a lowest point of a multi-year range
- SUP 4: 0.8163 123.6% retracement of the Dec 19 - Jan 20 bull leg
EURGBP traded lower again overnight but - for now - remains inside a range. The early February bounce still appears to have undermined a recent bearish threat. Attention is on 0.8378, the Jan 6 high and a key short-term pivot resistance. Clearance of it would strengthen a bullish condition and signal scope for a stronger recovery. For bears, a resumption of weakness would once again refocus attention on 0.8248, the Feb 3 low and the bear trigger.
OPTIONS: US Options Roundup
Feb-19 18:36
Tuesday's US rates/bond options flow included:
- SFRH5 96.06c, traded for half in 4k.
- SFRJ5 95.87/95.81/95.62p ladder, traded for 4 in 2k.
- SFRK5 97.43c, traded for 0.75 in 2k.
- SFRM5 95.93/96.06cs, traded for 1.5 in 7.5k.
- SFRM5 95.68p, traded for 2.5 in 3k.
- SFRM5 95.56/95.68/96.00/96.12 Iron Condor, sold at 2.25 in 3k.
- SFRQ5 95.93^, bought for 34.5 in 2k.
- SFRU5 95.93^, sold at 37 and 36.5 in 8k total
- SFRU5 95.93^, traded for 37 in 2k and 36.5 in 3.5k.
- SFRZ5 96.37/96.12/95.68p ladder, sold at 6.25 in 3k.
- 0QH5 95.93/96.06/96.18/96.43c condor, traded 3.5 in 5k.
- 0QM5 96.06 with 2QM5 96.00 straddle strip, bought for 93 in 1.5k.
- 2QU5 96.62/97.00cs, traded 5 in 3k.
