The week opened cautiously, with the S&P 500 slipping 0.3% Monday as a sharp selloff in semiconductors and memory names overwhelmed gains elsewhere, and with Treasury Secretary Bessent's Iran sanctions campaign hanging…
Read moreOver the last few weeks we have significantly expanded the app, closing gaps and adding a number of new charts.
Read moreThe week opened with the S&P 500 essentially flat as an unresolved Strait of Hormuz standoff dominated positioning and traders held back ahead of Wednesday's CPI print. The tone hardened through Monday and Tuesday as…
Read moreThe week opened with a powerful risk-on impulse as Trump called off planned strikes against Iran and floated a Strait of Hormuz deal within 24 hours, draining the geopolitical premium out of crude and unleashing a…
Read moreThe dominant theme was an intensifying US-Iran military conflict that dictated price action across every asset class, lifting Treasury yields to multi-year highs, and forcing markets to sit with an open-ended…
Read moreThings are getting real: The S&P 500 is trading lower, off roughly 1.2%, as a wave of mega-cap earnings misfires runs headlong into a fresh spike in crude tied to another leg up in the US-Iran standoff.
Read moreThe week opened defensively, with the S&P 500 pointing lower Monday as the US-Iran confrontation widened from a Strait of Hormuz standoff into a full Gulf-region conflict, dragging semiconductors down alongside a sharp…
Read moreS&P 500 is trading sharply lower, off roughly 0.9%, as an overnight widening of the US-Iran conflict into Kuwait, Bahrain, Qatar, and Jordan swamps an otherwise busy overnight earnings slate and turns the multi-front…
Read moreMarket makers sit on roughly half of SPX volume regardless of expiry (see chart below), but the action is in who supplies the other half.
Read moreCommodity Trading Advisors are professional investment managers, typically structured as hedge funds or managed-futures programs, that trade liquid futures, options, and foreign exchange markets.
Read moreOptions market makers (or dealers) sit at the center of the S&P 500 options market, facilitating the vast majority of trades. The dealer sells what you buy, and vice versa.
Read moreWe track the mechanical flows shaping markets in real time, and we contextualize the news and macro developments that shift the fundamental picture. We do this not because we think the fundamental layer doesn’t matter…
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