With S&P futures -48 handles and Nasdaq futures -275 handles I am covering some of last night’s index shorts and moving to very small in size:
* $SPY $772.50
* $QQQ $751.39
Position: Short SPY (VS), QQQ (VS)
* The 10-year Treasury note is yielding 5.345% (+7 basis points) this morning…
Stock futures lower (S&P futures -32 handles, Nasdaq futures -172 handles), likely tied to another new low in $TLT (-$0.60), rise in bond yields.
As well, stories of escalated attacks in Iran are lifting crude by four dollars a barrel.
Position: Short SPY (S), QQQ (S)
Break in.
As expected, PepsiCo ($PEP) cuts its 2026 outlook on margin pressure.
Position: Long PEP (VS)
* In fact, the markets are narrowing…
I wanted to repost this column from late yesterday afternoon:
Res ipsa loquitor:
SPY -0.27%
QQQ -0.31%
RSP -0.71%
IWM -1.32%
Fortunately I have FIN TV turned off and I don’t have to hear about the market’s broadening (not!) — and how healthy the top heavy market is.
Position: Short SPY (VS), QQQ (VS)
BY Doug Kass · Oct 7, 2026, 3:51 PM EDT
Position: Short SPY (S), QQQ (S)
The S&P Short Range Oscillator remains oversold at -3.69% vs. -3.88%.
As noted earlier and in the Comments Section, we reshorted the indices at the beginning of the New York Yankees game last night (ugh!).
Position: Short SPY (S), QQQ (S)
From the Comments Section:
Dougie Kass
Wednesday evening trading 740PM – shorting more Indices:
SPY $777.70
QQQ $758.99
Position: Short SPY (S), QQQ (S)
Long-end yields again hit multi-decade highs before a historically strong 10-year auction pulled them back, letting large-caps pare losses.
Position: None
Closing Volume
– NYSE volume 4% below its one-month average
– NASDAQ volume 11% below its one-month average
– VIX index: up 0.53% to 15.09
Breadth
S&P 500 Sectors
% Movers
Heat Maps
Position: None
Breadth collapses, new lows swamp new highs and the Russell 2000 sits on its 200-day average.
