STIR: Late SOFR Put Buying
May-09 17:52
* +20,000 SFRM5 95.68/95.75 put spds w/ 5,000 SFRM5 95.25/95.37 put spds and 5,000 SFRM5 95.12/95....
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US STOCKS: Equities Update: Gap Higher on 90 Day Tariff Pause "Except China"
Apr-09 17:49
- Stocks have gapped higher after Pres Trump tweets China tariff upped to 125% while 75 other countries get a 90 day pause and reduction in reciprocal tariff to 10%.
- Current levels still well off last Wednesday's pre-annc, DJIA currently up up 2269.1 points (6.03%) at 39915.45, S&P E-Minis up 350.5 points (6.98%) at 5371.25, Nasdaq up 1368 points (9%) at 16632.79.
- Information Technology and Consumer Discretionary sectors continue to outperform, hardware and semiconductor makers buoyed the tech sector: Advanced Micro Devices +15.62%, Microchip Technology +14.88%, Skyworks Solutions +14.02%, Intel Corp +13.68%, ON Semiconductor +13.00% and Crowdstrike Holdings +12.60%.
- The Consumer Discretionary sector was supported by: Tesla +11.61%, Expedia Group +10.92%, Ralph Lauren +10.12%, Wynn Resorts+9.79% and Norwegian Cruise Line +9.78%.
- On the flipside, Utilities and Health Care sectors continued to underperform, alternative energy providers lagging: Exelon +0.88%, Entergy +0.89%, Evergy +0.90% and Duke Energy +1.02%.
- Meanwhile, pharmaceuticals anchored the Health Care sector: Bristol-Myers Squibb -0.94%, Eli Lilly & Co -0.41%, AbbVie Inc +0.36%, Pfizer +0.37% and Incyte +0.86%.
US STOCKS: Equity Rally Extends With Clearance Of Initial Resistance
Apr-09 17:30
ESA has since cleared resistance at yesterday’s 5305.25.
- Latest high 5388.00 but back closer to 5330 in highly fluid trade.
- Next resistance seen at 5435.00 (Apr 4 high), after which lies 5554.41 (20-day EMA).
GBPUSD TECHS: MA Studies Remain In Bull-Mode Position
Apr-09 17:30
- RES 4: 1.3274 High Oct 3 ‘24
- RES 3: 1.3207 High Apr 3 and the bull trigger
- RES 2: 1.3017 61.8% retracement of the Apr 3 - 7 sell-off
- RES 1: 1.2899 38.2% retracement of the Apr 3 - 7 sell-off
- PRICE: 1.2774 @ 15:36 BST Apr 9
- SUP 1: 1.2709 Low Apr 7
- SUP 2: 1.2654 50.0% retracement of the Jan 13 - Apr 3 bull cycle
- SUP 3: 1.2652 2.0% 10-dma envelope
- SUP 4: 1.2559 Low Feb 28
GBPUSD traded sharply lower Monday but is recovering from this week’s low. For now, the recent sell-off appears corrective. Price has traded below the 50-day EMA - a concern for bulls - however, MA studies remain in a bull mode position and this highlights a dominant uptrend. A continued recovery would open 1.2899 and 1.3017, Fibonacci retracement points. A move through Monday's 1.2709 low, would signal scope for a deeper retracement.
