Michael Kramer's Comment & Analysis
A complete archive of Michael Kramer's articles, including current analysis & opinion.
Yesterday was pretty boring, with some games being played ahead of today's options expiration. Gamma levels should drop significantly at today's open, removing the “buy-the-dip” activity we’ve seen...
The real story ahead of the PPI and Retail Sales reports is Treasury rates, which continue to rise despite Tuesday's soft CPI report. Today, we’ll also hear from Powell as part of the Fed’s framework...
Stocks managed to rally again, and because of the speed of the rally over the last two days, it took the NASDAQ 100 into an overbought position, with the index crossing above the upper Bollinger Band...
Stocks, rates, and the US Dollar all increased yesterday. As I noted over the week, short-dated implied volatility was very high heading into the China meeting. Basically, it was a scenario where...
Stocks have consolidated over the past week and are currently positioned at a critical technical crossroads. The S&P 500 is wedged between the 61.8% Fibonacci retracement level and its 200-day...
It was an interesting day in the market, with significant price swings, soaring inflation expectations, rising rates, and even the dollar moving higher. The US-UK trade doesn’t look particularly...
It wasn’t an inspiring Wednesday. There was a lot of back-and-forth trading, followed by a late surge on news that the Trump team plans to rescind the Biden-era AI diffusion rule and replace it with...
It was a boring day, with the S&P 500 falling to start and basically trading sideways. Today, of course, will be the FOMC meeting, and I do not expect anything material to come from it. There is...
Volatility in the first quarter increased dramatically ahead of President Trump’s highly anticipated tariff plan. That volatility accelerated at the start of the second quarter, as tariff...
On Monday, the S&P 500 finished the day lower by roughly 65 basis points. From a stock market perspective, it was relatively uneventful.
When looking at the S&P 500, I still believe it’s...