More Than Expected

Three steps forward...

33
Thu, Mar 14, 2019 - 10:53am

In yesterday's podcast, we discussed the likelihood and necessity of a short term pullback ahead of next week's FOMC. Well here we are. We weren't expecting $15, however, but I guess that's not surprising, either, given the massive increase in open interest this past week.

And The Banks added another 3,400 contracts yesterday, bringing their six-day addition to over 63,000. As we discussed last week and again yesterday, it's likely that a portion of this is massive spread trades being placed. (Recall the 25,000 contract surge one day last week when prices were flat.) However,...

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Key Economic Events Week of 5/20

5/20 7:00 pm ET CGP speech
5/21 10:00 ET Existing Home Sales
5/22 2:00 ET FOMC minutes
5/23 9:45 ET Markit PMIs
5/24 8:30 ET Durable Goods

Key Economic Events Week of 5/13

TWELVE Goon speeches through the week
5/14 8:30 ET Import Price Index
5/15 8:30 ET Retail Sales and Empire State Manu. Idx.
5/15 9:15 ET Cap. Ute. and Ind. Prod.
5/15 10:00 ET Business Inventories
5/16 10:00 ET Housing Starts and Philly Fed
5/17 10:00 ET Consumer Sentiment

Key Economic Events Week of 5/6

5/9 8:30 ET US Trade Deficit
5/9 8:30 ET Producer Price Index (PPI)
5/9 10:00 ET Wholesale Inventories
5/10 8:30 ET Consumer Price Index (CPI)

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