Will be watching CME Monday for rtm potential

Tesla would not survive in a free market, but it's just a blip compared to the auto bailout.

24 hour data is critical in indices that trade around the globe. But it's still the US session that matters most, and overnight moves have to be confirmed in US RTH. You can see this by counting how seldom the absolute high or low of a move is made outside RTH. So I always calculate indicators off both (futures 24 & cash RTH), and keep ONH/ONL as reference points for RTH.

"...the worldwide strength of brand-Canada..." Good one. That's the kind of blather you get before the bottom falls out. That housing bubble is so precarious with oil in the '40s.

You're welcome. Will update with any significant changes, especially if extremes show up on both sides of the long bond.

Steve mentioned the commercials being short bonds in size. Here are speculative non-commercial net positions & z-scores on 1Y & 3Y bases. The things that stand out are:

1) the S&P, where specs have covered the bigger short position built late last year and are almost neutral YoY;

2) Very long gold 1Y & 3Y

3) Very short $ 1Y -- potential reversions on ##2-4 don't favor PMs near term

4) Yen long is extreme on 3Y

5) The specs, at least, are moving towards being long the 10Y as a longer term conviction, but aren't there yet.

I maintain the position that speculators drive marginal prices, and in that regard the runway is still long for the long bond -- with no near-term S&P covering pressure from here. The build in Russell net shorts is likely to continue without real domestic economic improvement.

I always listen 1.5x to 2x anyway, so you guys never sound normal ;-)

Sounds like a cross between the original late, late night talk show host, Tom Snyder & Paul Kangas of the Nightly Business Report. Dan Ackroyd did a great Snyder.

There was a middle-east explosion rumor going around on the first spike.

Input on profits vs stock performance vs recessions...

One thing you could adapt for gaps: an opening range rule where you take off your stop pre-market and then wait to see if there's downside follow-through on a 5m or 15m range. There wasn't on JMEI today - it shook people out on the open and didn't look back. Heck, it never went below the 1m low. Hope that's helpful.

Sold out of RH back in the 100s because of macro, technical & liquidity signals. It's not out of the woods, as the non-discounting shift and high-end consumer headwinds are going to work against them for a while. Obviously it can be a trading vehicle, but when the dust settles and macro and index bottoms are near, this could be an excellent swing. That is, if management can navigate what could be an even more challenging 2016 than we've seen so far.

Need R5 on the charts today

Mother Goose (the markets)...

Somebody paid me .40 for Allm at the open. I hope they didn't top tick it for too long. They didn't take enough.

Well put, Matt.

Works on Chrome, at least.

Sound is fine.

Seems like every time I travel, some stock I hold rips and then pulls back by the end of the trip. Just when there's no time to monitor it.

This was surprising: largest 5 week VIX decline in its history.

Note that such declines have not typically been bearish going forward, but 2007 & 2008 were exceptions.