@MikeTurveyCS

Senior Manager - Institutional Trading Relationship. Providing trading tools and education for advisors.

 Draper, UT
Joined March 2019
  • Tweets1.9K
  • Following491
  • Followers2.2K
712Media
Death crosses and golden crosses have never been exit or entry signals.
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Weekly $SPX update: three down weeks, a nothing week, and a 2.5% bounce this week. Pretty typical uptrend behavior.
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Michael Turvey retweeted
Kathy Jones@KathyJones1 Sep 2023
This is the really good news about the labor market. People are coming back into the labor force. Looks like ongoing rebalancing. It has been a slow process with a lot of ups and downs.
Kathy Jones@KathyJones1 Sep 2023
Prime age labor force participation is strong for both men and women.
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Lots want a pullback, now that they missed the pullback.
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Kathy Jones@KathyJones30 Aug 2023
2Q GDP was revised down to 2.1% from the 2.4% initial estimate. Personal consumption was revised up a tenth to 1.7%, but that came in below expectations.
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Are the people forecasting future rate cuts the same people that have been dead wrong on the economy for the past year?
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Weekly $SPX update: signs of stabilizing after a 3 week pullback. 4340 is a decent near-term support to keep an eye on.
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Bespoke
@bespokeinvest21 Aug 2023
The Russell 2000 has been stuck in a RUT for the last year. $IWM
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Weekly $SPX update: saw a great quote this week, apologies I can't remember who, but went something like this: "An overdue pullback sounds reasonable before it happens, but feels different in real time. The only difference is how you feel about it."
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$SPX to the 50-day moving average
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I mean, the S&P is down a staggering 1.4% in 2 days bloomberg.com/news/articles/…

Goldman Sachs Blames Zero-Day Options for Fueling S&P 500 Selloff

Look closely at the contours of Tuesday’s tumble in the S&P 500 and fingerprints of a new market force come into focus.

bloomberg.com
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Urban Carmel
@ukarlewitz16 Aug 2023
8 years ago and it still hasn’t happened
Urban Carmel
@ukarlewitz18 Sep 2015
People have been worried about China's economy for 15+ years. A heads up in case you think that's some kind of leading edge insight
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Carl Richards
@behaviorgap25 Aug 2022
The smartest people I know are the ones I hear say this the most often: “I don’t know enough to have an opinion on that”
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Weekly $SPX update: not much to report after mixed inflation data and bad economic news out of China. S&P500 down just 0.25% this week.
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Weekly $SPX update: the debt downgrade, spike in long-term rates, and mediocre tech earnings all provided good reasons for a much-needed pullback. The 10wk EMA sits just about 1% lower near 4426, but does that gap between the 10wk and 40wk EMA need to shrink a bit?
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Traders scooping up the algo sales after ISM services
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Weekly view of 30y Treasury futures. Huge move on the long end of the curve this week, looking like it may probe the lows but different momentum vs Oct 2022. #ZB_F
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The US Treasury selloff has been driven by long-dated notes, not those most sensitive to Fed policy. This suggests two things: traders expect inflation to stay higher for longer and they question whether the Fed is truly going to raise rates high enough to achieve 2% inflation
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At the moment, market odds at 82% on the Fed taking a pass on rates in September. #InterestRates
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Michael Turvey retweeted
Bespoke
@bespokeinvest24 Jul 2023
The Fed's GDPNow has Q2 GDP growing 2.4% (a/o 7/19). We'll get the advance release on Thursday. Consensus economist estimate is 1.8%. atlantafed.org/cqer/research…
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S&P500 keeps motoring higher. Have reached the closing highs from end of March 2022. $SPX
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