Person
Author of the analysis; member and investment adviser representative with Mott Capital Management.
Michael Kramer of Mott Capital says tech ETF XLK broke its uptrend from July 29 and could test $175 support if it closes below its 50-day average. His bond-market thesis for AI rests on one hard figure, computer prices up 9.7%.
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Mott Capital's Michael Kramer argues that deteriorating breadth in stocks and high-yield bonds, falling SOFR volumes and money fund outflows will meet another $317 billion of net Treasury issuance in October and November.
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July headline PCE at 3.7 per cent puts a September Fed hike near even money, and the load-bearing piece of the argument is a chart claim about how little sits above today's 2-year and 10-year yields.
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Michael Kramer reads options positioning and the chart as capping what a good print can pay, and says the level that matters is $210, not the headline number.
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One analyst argues dealer gamma has pinned the S&P 500 and pressed the VIX down to 14.3. VIX options expire Wednesday morning, and the flows doing the pinning expire with them.
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