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December non-farm payrolls data came in much hotter than expected. More jobs were added, the unemployment rate dipped slightly, and average hourly wages rose. Overall, it was a solid employment report, but the stock market didn’t like the news. Throw in the rise in inflation expectations to 3.3% in January as per the University of Michigan Survey of Consumers, and you get a scenario that points to fewer interest rate cuts from the Federal Reserve in 2025.

Investors don’t want to hear that.

Equity futures fell in pre-market trading, and the broader stock market indexes continued in that direction in the first half hour of regular trading hours. Since then, it has been a choppy day, with the broader indexes closing the day lower.

The Weakness Spreads

Inflation and fewer interest rate cuts sent investors into selloff mode. The S&P 500 ($SPX) closed at 5,827.04, down 1.54%, which brings the index below its November lows (dashed blue line in the chart below). The index closed a tad bit above the support of its 100-day simple moving average (SMA).

FIGURE 1. DAILY CHART OF THE S&P 500 INDEX. The index closed below its November lows and just a hair above its 100-day SMA. Market breadth is also weakening, as seen by the breadth indicators in the lower panels.Chart source: StockCharts.com. For educational purposes.

Market breadth indicators, such as the NYSE Advance-Decline Line, the percentage of S&P 500 stocks trading above their 200-day moving average, and the S&P 500 Bullish Percent Index, are trending lower. Also, notice the series of lower highs and slightly lower lows.

The Nasdaq Composite ($COMPQ) is trading below its 50-day SMA and has a series of lower highs and lower lows (see chart below).

FIGURE 2. DAILY CHART OF THE NASDAQ COMPOSITE. Lower highs and lower lows, a close below the 50-day SMA, and weakening breadth indicators indicate weakness in the tech-heavy index.Chart source: StockCharts.com. For educational purposes.

The Nasdaq Composite Bullish Percent Index ($BPCOMPQ), the percentage of Nasdaq stocks trading above their 200-day moving average, and the Nasdaq Advance-Decline Line are all declining, indicating weakening market breadth.

The S&P 600 Small Cap Index ($SML) was the worst performer, closing lower by over 2%. The chart below shows that the index closed at a key support level, the low of the September to November trading range. This makes it a greater than 10% decline from the November 25 high, which means the small-cap index is in correction territory.

FIGURE 3. DAILY CHART OF THE S&P 600 SMALL CAP INDEX. Small caps have suffered since December and are now at a key support level, which coincides with the low of a previous trading range.Chart source: StockCharts.com. For educational purposes.

Market breadth is weakening in the small-cap index, as indicated by the declining percentage of S&P 600 stocks trading above their 200-day MA and the decline in the Advance-Decline percentages.

Airlines Soar

It wasn’t bad for all industries. The Dow Jones US Airlines Index ($DJUSAR) was the top-performing StockCharts Technical Rank (SCTR) in the US Industries category. You can thank Delta Air Lines, Inc. (DAL) for that. The company reported better-than-expected Q4 earnings and gave a positive 2025 outlook. American Airlines (AAL), United Airlines (UAL), and Alaska Air Group (ALK) rose in sympathy to Delta’s earnings report.

FIGURE 4. AIRLINE INDUSTRY LEADS IN THE TOP 10 US INDUSTRIES SCTR REPORT. Strong earnings from Delta Air Lines helped lift airline stocks. The Dow Jones US Airlines Index was the top performer in the US Industries Top 10 SCTR Report.Image source: StockCharts.com. For educational purposes.

The Pressure of Rising Yields

Treasury yields moved sharply higher on the jobs report news, with the 10-Year Treasury yield reaching a high of 4.79% (see chart below). The last time yields were at this level was in October 2023.

FIGURE 5. DAILY CHART OF THE 10-YEAR US TREASURY YIELD. The 10-year yield rose sharply after the strong jobs data on Friday. Chart source: StockCharts.com. For educational purposes.

According to the CME FedWatch Tool, the probability of the Fed holding rates at the current 2.45%–2.50% in their January 29 meeting is 97.30%.

The US dollar continues to strengthen, an indication the US economy remains strong relative to other countries. Precious metals and bitcoin traded higher, which could be because geopolitical risks could soon be a focal point.

There were many significant moves this week—equities fell, yields rose, and the US dollar continued to strengthen. Volatility is stirring, although, at below 20, it still indicates investors are somewhat complacent. A spike in the Cboe Volatility Index ($VIX) and a breakdown of some of the support levels the broader indexes are hanging on to, could put the US stock market into correction territory. Let’s see if the PPI and CPI move the needle next week.

End-of-Week Wrap-Up

S&P 500 down 1.94% for the week, at 5827.04.47, Dow Jones Industrial Average down 1.86% for the week at 41,938.45; Nasdaq Composite down 2.34% for the week at 19,161.63$VIX up 21.14% for the week, closing at 19.54Best performing sector for the week: EnergyWorst performing sector for the week: Real EstateTop 5 Large Cap SCTR stocks: Rocket Lab USA, Inc. (RKLB); Applovin Corp. (APP); Amer Sports, Inc. (AS); Credo Technology Group Holding Ltd. (CRDO); Reddit Inc. (RDDT)

On the Radar Next Week

December PPIDecember CPIDecember Retail SalesDecember Housing StartsFed speeches from Barkin, Kashkari, Schmid, Goolsbee

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

Who’s your MVP?

Even with the remarkable campaign from Saquon Barkley, the former New York Giant, it’s pretty much a two-superstar race for NFL Most Valuable Player honors.

Lamar Jackson or Josh Allen?

That’s like asking if you’d rather have chocolate or vanilla. A cupcake or a muffin. A prawn or a shrimp.

Really, there is no wrong answer. Jackson, the two-time MVP for the Baltimore Ravens, had his best season yet. Allen, the fire beneath the Buffalo Bills, had his best season yet.

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In many ways, it’s a wash. Jackson became the first quarterback in NFL history to pass for 4,000 yards in a season while rushing for 900. Allen became the first player ever to pass for at least two touchdowns and run for two touchdowns in consecutive weeks.

Jackson, whose potential as a pocket passer was severely doubted when he came out of Louisville, had the fourth-best passer rating in league annals (119.6) and threw just four interceptions. Allen, who used to have significant problems with untimely turnovers, threw just six picks this season while leading a unit that had the fewest giveaways by an NFL team since 1990 (eight).

Allen sparkled in big-game victories against the Chiefs and Lions, who are both resting this weekend as the No. 1 seed in their respective conferences. Jackson sparkled in the head-to-head matchup against Allen and outdueled Joe Burrow twice, too.

No wrong answer between the two 28-year-olds. With the honor based on regular-season credentials, the deadline for casting ballots was Wednesday. Whatever happens this weekend when the prized quarterbacks from the 2018 NFL draft class open the playoffs won’t affect the outcome. Yet by the time the MVP is officially revealed during the week of Super Bowl 59, we’ll know the update to another key question.

Can either of these guys beat Patrick Mahomes when it matters most?

See, winning the MVP award – which for Allen would be a first, while Jackson could become the sixth man to win it three times – is just the appetizer in the context of the bigger picture of greatness.

Sure, only a few have claimed MVP hardware. It’s an honor to be cherished. But as they finish up their seventh pro seasons, it’s the perfect time to be reminded that a big reason why Jackson and Allen have never played in a Super Bowl is because Mahomes has stood in the way.

For all the factors that make the MVP debate so intriguing, maybe the most significant thing Jackson and Allen have in common is that they’ve never beaten Mahomes in the playoffs. We’ll see if this is the year one of them can break through.

“The year that those quarterbacks have had for those two teams? It’s crazy,” Ronnie Lott, the Hall of Fame safety who won four Super Bowls with the San Francisco 49ers, pondered this week. “But there’s only one Michael Jordan, and there’s only one Mahomes.

“Can they eventually take him down? Lamar or Josh. I don’t know.”

Last year, Mahomes and the Chiefs eliminated the Bills and the Ravens in successive weeks on the path to repeating as Super Bowl champs. For Allen, it was the third time he was victimized in such fashion by Kansas City.

Jackson was stung in the AFC title game after Baltimore claimed the No. 1 seed and home-field advantage. With Jackson committing two turnovers and absorbing four sacks, the Ravens’ No. 1-ranked offense was stymied. The result dropped Jackson’s career playoff record to 2-4 and, as he freely admits, provided motivational fuel throughout this season.

“To be honest with you, the only one I do think about is the AFC championship,” Jackson said this week, asked about the playoff setbacks. “That’s probably the only playoff game I think about, like it was right there.”

Allen can relate. His most crushing playoff setback came nearly three years ago in the AFC divisional playoff at Arrowhead Stadium, when Mahomes engineered a game-tying field goal drive in the final 13 seconds of the fourth quarter that sent the game to overtime.

Now comes the chance for both to make another run at a championship, with the prospect that they will square off in the divisional round. The Ravens open the playoffs by hosting the AFC North rival Pittsburgh Steelers on Saturday night (8 p.m. ET, Amazon Prime); the Bills host the Denver Broncos on Sunday (1 p.m. ET, CBS). If they both advance, they’ll meet the following weekend at Buffalo.

After that, Mahomes – who owns three Super Bowl MVP trophies to go with two MVP awards – will likely be waiting in the AFC championship game.

Surely, they have heard the noise. Super Bowl or bust. Allen and Jackson established themselves long ago as elite, but without the championship crown they are forced to endure, fairly or not, a narrative of whether they can win the big one.

Allen, with a 5-5 career playoff record, was asked this week about balancing the typical one-game-at-a-time focus with the championship mission. He implied that he’s more concerned about the Broncos than the big picture of the playoff chase.

“You’ve got to put one foot in front of the other,” Allen said.

Jackson can relate. As brilliant as he’s been during the regular season, he has just as many playoff wins as MVP trophies. And in six postseason games, he’s had just as many interceptions (six) as touchdown passes (six).

But never mind pressure from the outside. He realizes there’s no need to increase it from within.

“I just (get) too excited, that’s all,” Jackson said, reflecting on his playoff experiences. “Too antsy. I’m seeing things before it happens, like oh, I’ve got to calm myself down. Just being more experienced. I’ve found a way to balance it out.”

Maybe that’s the ticket to achieves the ultimate measure of greatness — and maybe even getting the best of Mahomes.

Follow USA TODAY Sports’ Jarrett Bell on X @JarrettBell

This post appeared first on USA TODAY

The cause of Cleveland Browns quarterback Deshaun Watson’s setback in his recovery from an Achilles tear has been revealed.

The Browns announced Friday afternoon that the quarterback ruptured his right Achilles tendon again. The announcement comes days after Browns general manager Andrew Berry said Monday that Watson’s initial recovery timeline had been delayed.

According to the team’s news release, Watson had surgery on Thursday to repair the new injury to the tendon.

Watson, 29, initially tore his right Achilles tendon on Oct. 20 during the Browns’ Week 7 clash with the Cincinnati Bengals. He had surgery to repair it five days later.

Less than three months after the initial surgery, Watson has ruptured the same tendon again and returned for another procedure Thursday.

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His status for the 2025 season remains unclear for now. ESPN’s Adam Schefter reported that doctors are giving Watson a seven-month recovery timeline after his latest procedure, giving him a chance to return midway through next season.

Deshaun Watson contract

In March 2022, the Houston Texans traded Watson to the Browns for three first-round picks, a third-round pick and two fourth-rounders. That same day, Cleveland signed the quarterback to a five-year, fully guaranteed contract extension that would keep him in town through the 2026 season.

Here are the full contract details:

Term: 5 years
Total value: $230 million
Average annual value (AAV): $46 million
Guaranteed money: $230 million

According to Spotrac, the Browns owe Watson $46 million in base salary next season, in addition to almost $9 million from a prorated signing bonus and almost $18 million as part of a prorated restructure. In total, Spotrac projects his 2025 cap hit to be about $72.94 million.

Jason Fitzgerald, the founder of OverTheCap.com, reported Monday morning after Berry’s initial announcement that the Browns have $44.3 million of Watson’s 2025 salary insured for injury. Cleveland would get significant compensation as a result if the quarterback can’t play in 2025.

Deshaun Watson stats

Here’s how Watson’s stats look in the three years since he joined the Browns:

Games: 19
Completion rate: 341-for-557 (61.2%)
Passing yards: 3,365
Yards per attempt: 6.0
Passing touchdowns: 19 (TD%: 3.4)
Interceptions: 12 (Int%: 2.2)
Passer rating: 80.7

Watson has played an average of 6.33 games per season since coming to Cleveland. His completion rate, yards per attempt and passer rating (as well as TD% and Int%) are all worse than his marks in four years with the Texans.

This post appeared first on USA TODAY

The NFL playoffs won’t be in the Los Angeles area as planned because of the deadly wildfires that continued to burn in the region ahead of wild-card weekend. But the league is making efforts to ensure its presence is still felt as hundreds of thousands of people come to grips with the damage caused by what Los Angeles Mayor Karen Bass called a ‘historic firestorm.’

The NFL and four of its teams are donating $5 million to support the Los Angeles communities impacted by the ongoing devastation these flames are creating. The Los Angeles Rams, Los Angeles Chargers, Minnesota Vikings and Houston Texans, as well as the NFL Foundation, announced ahead of their NFL postseason games that they have each pledged $1 million to the Los Angeles Fire Department Foundation, the American Red Cross and other organizations helping to combat the effects of this natural disaster.

“We are heartbroken over the devastating losses experienced by so many in the Los Angeles area and inspired by the heroism of first responders and residents who have supported their neighbors,” NFL Commissioner Roger Goodell said. “The NFL family is committed to working with the Los Angeles Chargers and Los Angeles Rams to support their local communities in their time of need.”

The NFL was forced to move the Rams’ wild-card playoff game against the Vikings on Monday night from SoFi Stadium in Inglewood, California to State Farm Stadium in Glendale, Arizona ‘in the interest of public safety.’ But the league and its teams will honor the victims and first responders affected by the fires throughout wild-card weekend, beginning with Saturday’s postseason opener featuring the Texans hosting the Chargers.

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Players, coaches and staff from the Chargers and Rams will wear custom LAFD hats and shirts with their team’s monogram to start the playoffs. Game-worn jerseys and select game-used footballs will be auctioned off by the NFL. All the proceeds raised from the sale of these products will go to the LAFD Foundation and American Red Cross.

The Rams also hold a 50/50 raffle for fans during every home game, and 50 percent of Monday’s jackpot, which would typically be donated to the Los Angeles Rams Foundation, will instead go to the LAFD Foundation and the American Red Cross. The Kroenke Family, which owns the Rams, targeted the team’s $1 million donation specifically for the LAFD Foundation. It provides Los Angeles County and City firefighters with funds to help pay for equipment, programs and other resources.

‘We are beyond grateful for the tireless efforts of our first responders who continue to protect our community as well as individuals who continue to help our neighbors in need,’ the Kroenke family said in a statement. ‘We know there are both immediate and long-term needs and our family and the Rams are committed to doing our part to support recovery efforts now and into the months and years ahead.’

The Chargers targeted their $1 million for American Red Cross relief efforts, the LAFD Foundation, Team Rubicon and several pet rescue organizations sheltering animals displaced by the wildfires. The Vikings and Texans each provided matching $1 million contributions for on-the-ground relief efforts and first responders in the Los Angeles area.

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World Wrestling Entertainment co-founder Vince McMahon will pay $1.7 million after failing to disclose hush money payments made while he was the company’s CEO, the Securities and Exchange Commission announced.

The SEC said that McMahon signed two settlement agreements, one in 2019 and one in 2022, and did not disclose those payments to anyone in the company, including the Board of Directors, legal department, accountants, financial reporting personnel or auditors.

In turn, McMahon ‘circumvented WWE internal accounting controls and caused material misstatements in the company’s 2018 and 2021 financial statements,’ the SEC said, which accused McMahon of failing to disclose a $3 million payment paid to a former WWE employee and $7.5 million paid to a female independent contractor for them not going to the authorities with their sexual assault claims.

‘During his time leading WWE, Vince McMahon acted as if rules did not apply to him, and now we have confirmation that he repeatedly broke the law to cover up his horrifying behavior, including human trafficking,’ Ann Callis, Attorney for Janel Grant, a former employee who filed a lawsuit accusing McMahon of sex trafficking and sexual misconduct said in a statement. ‘The SEC’s charges prove that the NDA Vince McMahon coerced Ms. Grant into signing violates the law, and therefore her case must be heard in court. While prosecutors for the Southern District of New York continue their criminal investigation, we look forward to bringing forward new evidence in our civil case about the sexual exploitation Ms. Grant endured at WWE by Vince McMahon and John Laurinaitis.’

‘The case is closed. Today ends nearly three years of investigation by different governmental agencies,’ McMahon said in a statement. ‘There has been a great deal of speculation about what exactly the government was investigating and what the outcome would be. As today’s resolution shows, much of that speculation was misguided and misleading. In the end, there was never anything more to this than minor accounting errors with regard to some personal payments that I made several years ago while I was CEO of WWE. I’m thrilled that I can now put all this behind me.’

McMahon was ordered to pay a $400,000 civil penalty and reimburse WWE $1,330,915.90 due to violating the Securities Exchange Act.

He stepped down as executive chairman and board member of TKO Group Holdings, the parent company of WWE, in 2024 after federal authorities investigated sexual assault and sex trafficking allegations against him.

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The Associated Press announced Friday the 2024 NFL All-Pro team, which included some surprises and several expected unanimous selections.

Baltimore Ravens quarterback Lamar Jackson was named first team quarterback for the second consecutive year and the third time overall. He received more votes than Buffalo Bills quarterback Josh Allen, who is the current favorite for the NFL MVP award, by odds. Jackson’s Ravens teammates, linebacker Roquan Smith, cornerback Marlon Humphrey, and fullback Patrick Ricard, join Jackson on the first team.

Another notable standout was Philadelphia Eagles running back Saquon Barkley, who received 48 of 50 first-place votes. Eagles teammate linebacker Zack Baun joined Barkley on the first team.

Here is the full 2024 NFL All-Pro team.

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2024 All-Pro first team

Offense

Quarterback: Lamar Jackson, Baltimore Ravens
Running Back: Saquon Barkley, Philadelphia Eagles
Fullback: Patrick Ricard, Baltimore Ravens
Tight End: Brock Bowers, Las Vegas Raiders
Wide Receivers: Ja’Marr Chase, Cincinnati Bengals; Justin Jefferson, Minnesota Vikings; Amon-Ra St. Brown, Detroit Lions
Left Tackle: Tristan Wirfs, Tampa Bay Buccaneers
Left Guard: Joe Thuney, Kansas City Chiefs
Center: Creed Humphrey, Kansas City Chiefs
Right Guard: Quinn Meinerz, Denver Broncos
Right Tackle: Penei Sewell, Detroit Lions

Defense

Edge Rushers: Myles Garrett, Cleveland Browns; Trey Hendrickson, Cincinnati Bengals
Interior Linemen: Cameron Heyward, Pittsburgh Steelers; Chris Jones, Kansas City Chiefs
Linebackers: Zack Baun, Philadelphia Eagles; Fred Warner, San Francisco 49ers; Roquan Smith, Baltimore Ravens
Cornerbacks: Patrick Surtain II, Denver Broncos; Derek Stingley Jr., Houston Texans
Slot cornerback: Marlon Humphrey, Baltimore Ravens
Safeties: Kerby Joseph, Detroit Lions; Xavier McKinney, Green Bay Packers

Special Teams

Placekicker: Chris Boswell, Pittsburgh Steelers
Punter: Jack Fox, Detroit Lions
Kick Returner: KaVontae Turpin, Dallas Cowboys
Punt Returner: Marvin Mims Jr., Denver Broncos
Special Teamer: Brenden Schooler, New England Patriots
Long Snapper: Andrew DePaola, Minnesota Vikings

2024 All-Pro second team

Offense

Quarterback: Josh Allen, Buffalo Bills
Running Back: Derrick Henry, Baltimore Ravens
Fullback: Kyle Juszczyk, San Francisco 49ers
Tight End: George Kittle, San Francisco 49ers
Wide Receivers: Terry McLaurin, Washington Commanders; CeeDee Lamb, Dallas Cowboys; A.J. Brown, Philadelphia Eagles
Left Tackle: Jordan Mailata, Philadelphia Eagles
Left Guard: Quenton Nelson, Indianapolis Colts
Center: Frank Ragnow, Detroit Lions
Right Guard: Chris Lindstrom, Atlanta Falcons
Right Tackle: Lane Johnson, Philadelphia Eagles

Defense

Edge Rushers: T.J. Watt, Pittsburgh Steelers; Nik Bonitto, Denver Broncos; Andrew Van Ginkel, Minnesota Vikings
Interior Linemen: Zach Allen, Denver Broncos; Jalen Carter, Philadelphia Eagles
Linebackers: Frankie Luvu, Washington Commanders; Bobby Wagner, Washington Commaders; Zaire Franklin, Indianapolis Colts
Cornerbacks: Trent McDuffie, Kansas City Chiefs; Christian Gonzalez, New England Patriots
Slot cornerback: Derwin James, Los Angeles Chargers
Safeties: Kyle Hamilton, Baltimore Ravens; Budda Baker, Arizona Cardinals

Special Teams

Placekicker: Brandon Aubrey, Dallas Cowboys
Punter: Logan Cooke, Jacksonville Jaguars
Kick Returner: Austin Ekeler, Washington Commanders
Punt Returner: Kalif Raymond, Detroit Lions
Special Teamer: J.T. Gray, New Orleans Saints
Long Snapper: Ross Matiscik, Jacksonville Jaguars

This post appeared first on USA TODAY

A previous version of this story included the incorrect year that Wycheck died. He died on Dec. 9, 2023.

If you’re a fan of the sport of football this is an amazing time. Five consecutive days of college and NFL playoffs started on Thursday and go through Monday night. There’s probably never been a stretch like this in the modern history of the sport. Some of you will cheer. Or boo. Or just sit and watch football for hours.

There’s one other thing I also want you to do: remember. Remember that these are human beings playing this game. Remember people like Frank Wycheck.

Football is a beautiful sport that makes a lot of people rich and often celebrates the physical heights human beings have reached. But we also have to remember what the sport does to the people that play it. Actually, a better way to say it is, we have to never forget what it does. That’s where Wycheck and many others come in.

Wycheck’s family announced this week that the former Tennessee Titans tight end, who played in the NFL for 11 seasons, suffered from chronic traumatic encephalopathy, or CTE, before he died on Dec. 9, 2023. He was just 52.

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Wycheck’s family did something in the aftermath of his death that wasn’t just brave, it was helpful for the rest of us. His family explained in a statement that it paired with Boston University’s Chronic Traumatic Encephalopathy Center to posthumously examine Wycheck for CTE. The disease is an insidious one caused by repetitive head trauma. Not necessarily just big hits, either. But the things you see every play; the basic building blocks of football: blocking and tackling.

It’s what you’ll see every minute of one of these college playoff games. Every play of every NFL postseason contest. Almost every tackle football game that’s ever played on any level. It’s what Wycheck did on the NFL level for over a decade.

CTE can lead to significant mental health issues like memory loss, depression, dementia and other frightening traumas. Wycheck’s family said he had Stage III CTE at the time of his death. Stage IV is the most advanced form of the disease.

As of early 2023, CTE has been diagnosed in 345 of the 376 NFL players studied by Boston University’s CTE center.

‘For comparison, a 2018 Boston University study of 164 brains of men and women donated to the Framingham Heart Study found that only 1 of 164 (0.6 percent) had CTE,’ writes the center. ‘The lone CTE case was a former college football player. The extremely low population rate of CTE is in line with similar studies from brain banks in Austria, Australia and Brazil.

‘The NFL player data should not be interpreted to suggest that 91.7 percent of all current and former NFL players have CTE, as brain bank samples are subject to selection biases. The prevalence of CTE among NFL players is unknown as CTE can only be definitively diagnosed after death. Repetitive head impacts appear to be the chief risk factor for CTE, which is characterized by misfolded tau protein that is unlike changes observed from aging, Alzheimer’s disease, or any other brain disease.’

In other words, no one can say definitively if the vast majority of current NFL players, or past ones who are still alive, have CTE, but it can be said the vast majority of deceased NFL players examined for the disease do.

Wycheck’s two daughters, Deanna Wycheck Szabo and Madison Wycheck Nowell, did something following their father’s death that we should all be grateful for. They expressed hope that his struggles with CTE would shine a light on this horrible disease. They are, in many ways, asking us not to forget players like their dad. Players who entertained us. Players who had a choice, yes, but that doesn’t mean they don’t deserve our care. Or, at the very least, for us to be educated about what CTE is.

‘My father put his body on the line throughout his career,’ Szabo said. ‘He loved the game and even more so loved his teammates. After retirement, he fought for years to bring light to his post-NFL journey and the fears he had around his struggles and symptoms that he knew whole-heartedly was CTE. He often felt forgotten and ignored, and that his situation was helpless.

‘Reflecting back, I wish our family had been educated on the signs and symptoms of CTE. Instead of believing that something was inherently wrong with him, we now know he was doing the best he could as a father and friend under circumstances beyond his control.

‘Our family is grateful to learn of his confirmed CTE diagnosis in hopes to continue our father’s desire to bring awareness, increased intervention, education, and support for NFL alumni and their families related to CTE. Our hope is that NFL alumni, who believe they are suffering from CTE, will be given the much-needed resources and guidance prior to their symptoms reaching a debilitating state. With on-going CTE research and diagnosis’, we hope future NFL alumni and families will be explicitly given an outline and plan of action in receiving care and treatment. That’s what our father would have wanted.’

Wycheck should also be remembered for something else. That like so many before him, and now, he played in a sport that is full of wonders, but also potentially has extreme long-term dangers. We should never forget that, either.

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The top-shelf starting pitchers your team dreamed on this winter? They’re almost all gone – Corbin Burnes to Arizona, Garrett Crochet traded to Boston, Max Fried getting rich in the Bronx.

So what’s a team in need of an offseason revamp to do? Build from the back to the front.

Despite the high-profile starting pitcher signings, a trove of difference-makers remain on another market – the bullpen. And while reliever volatility has cursed many a front office, advanced metrics and pitch development labs have taken much of the guesswork out of forecasting future reliever success.

With that, here’s a look at the 11 best remaining relievers on the market, based on USA TODAY Sports’ ranking of 120 free agents, with age as of April 1 and previous team:

1. Tanner Scott (30, Padres)

You could make a case that Scott is deserving a deal similar to Josh Hader, the dominant lefty who earned a $95 million pact from Houston last year. But for as much as baseball executives love to tout a pitcher that can enter at any time in high-leverage situations, they still don’t pay those guys as much as so-called traditional closers. Yet Scott was worth 4.0 WAR last year, struck out 84 in 72 innings and produced a 1.05 WHIP the past two seasons. A difference-maker.

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2. Carlos Estévez (32, Phillies)

The 6-foot-6 former Angels closer was an All-Star in 2023 and was largely dominant again in 2024 (0.91 WHIP) before a so-so three playoff appearances for the Phillies. An 86% save percentage the past two years, and induces enough weak contact to be a high-leverage guy of various stripes.

3. Jeff Hoffman (33, Phillies)

You can put an asterisk on this one as Hoffman may be redeployed as a starting pitcher in 2025, for which he has a 5.64 career ERA in 50 starts – 38 of them coming as a Colorado Rockie. Yet Hoffman was great as a reliever the past two seasons, earning All-Star honors in Philly last year before second-half and playoff hiccups. Clay Holmes was in a similar boat this winter as an All-Star reliever tabbed as a soon-to-be-starter-again; he received a three-year, $38 million deal from the Mets.

4. Kirby Yates (38, Rangers)

With a solid offseason in progress and one more big hole left in their bullpen, it seemed likely the Rangers might re-up Yates, a 2024 All-Star who saved 33 games. But they opted for old friend Chris Martin instead and all indications are that might be it for relief actions in Arlington. So, who needs a well-seasoned vet who’s posted a 1.04 WHIP and struck out 12 batters per nine since returning from 2021 Tommy John surgery?

5. Spencer Turnbull (32, Phillies)

A la Hoffman, he’s a Philly expat with both starting and relieving in his past. He made seven starts and 10 relief appearances in 2024 and has a no-hitter on his resume, so perhaps he doesn’t belong on this list. But Turnbull can be a sneaky-good and versatile acquisition for any club – he missed the last half of the season due to a lat strain.

6. A.J. Minter (31, Braves)

A bit of an unknown quantity, as he underwent hip surgery in September and pitched in just 39 games. Yet Minter has punched out an average of 11 batters per nine since 2021 and had a 160 adjusted ERA last year. Owns .602 OPS against lefty hitters in his career, and is No. 2 southpaw on this list behind Scott.

7. Kenley Jansen (37, Red Sox)

Quietly good two-year stint in Boston, where he converted 56 of 64 save chances (86%) and had a 1.06 WHIP last season. Not as fungible as other options but a fine ninth-inning guy, still. Just 31 saves from 478 in his career, tying Lee Smith for third place on the all-time list.

8. David Robertson (39, Rangers)

The parade of tried-and-trues continue. Robertson turned down a 2025 player option after pitching a career-high 72 innings in his age-38 season – and maintained a 1.11 WHIP and 2.65 FIP.

9. Tommy Kahnle (35, Yankees)

A Bronx reunion seemed to make sense, at least before the Yankees traded for Devin Williams and Fernando Cruz, which would relegate Kahnle to a sixth- or seventh-inning kinda guy. He can probably find higher-leverage dollars elsewhere after striking out 10.2 batters per nine innings and posting eight consecutive scoreless playoff outings.

10. Buck Farmer (34, Reds)

We veer from solid to serviceable here; Farmer will take the ball, as his 71 and 61 appearances the past two seasons attest, but his 4.00 FIP and the notion he may miss fewer bats as he ages are points of concern.

11. Danny Coulombe (35, Orioles)

We’ll round this out with one more lefty for the road. Coulombe was solid for two seasons with Baltimore (2.56 ERA, 0.95 WHIP) before an elbow cleanout curtailed his ’24 season. Yet it’s not a long-term health concern and Coulombe remains deadly on lefties (.175 average against, no walks, .400 OPS in ’24).  

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S&P 5850 has been the most important “line in the sand” for stocks since the pullback from the 6000 level in November 2024.  With the SPX closing below that 5850 level on Friday, we see further corrective pressures with the 200-day moving average as a reasonable downside target.  Today we’ll break down a series of projection techniques that have helped us hone in on this potential area of support.

The Break of 5850 Completes a Head and Shoulders Top

One of the most widely-followed patterns in technical analysis, the fabled head and shoulders topping pattern, is formed by a major high surrounded by lower highs on each side.  After the S&P 500 established a lower high in December, we immediately started looking for confirmation of this bearish pattern.

To confirm a head and shoulders top, and initiate downside targets on a chart, the price needs to break through the “neckline” formed by the swing lows between the head and two shoulders.  While price pattern purists may advocate for a downward-sloping trendline to capture the intraday lows of the neckline, I’ve been focused on the price level of SPX 5850.  

As long as the S&P remained above that level of support, then the market could still be considered in a healthy bullish phase.  But a close below the 5850 level on Friday tells me that this corrective move may just be getting started.  Let’s consider some ways to identify a potential downside objective, first using the pattern itself.

Calculating a Minimum Downside Objective

As delineated in Edwards and Magee’s classic book on price patterns, you can use the height of the head and shoulders pattern to identify an initial downside objective.  Basically, take the distance from the top of the head to the neckline, and then subtract that value from the neckline at the breaking point.

Based on my measurements on the S&P 500 chart, this process yields a downside target of right around 5600.  It’s worth noting that Edwards and Magee considered this a “minimum downside objective”, implying that there certainly could be further deterioration after that point has been reached.

Now let’s consider some other technical analysis tools that could help us to validate this potential downside target.

A Confluence of Support Confirms Our Measurement

If we create a Fibonacci framework using the August 2024 low and the December 2024 high, we can see a 38.2% retracement around 5725, which lines up fairly well with the swing low from late October.  Perhaps this could serve as a short-term support level during the next downward phase?

But as I review the chart, I’m struck by the fact that the 50% retracement lines up almost perfectly with our price pattern objective.  Many early technical analysts, including the infamous W.D. Gann, favored the 50% retracement level as the most meaningful to watch.

You may also notice that the 200-day moving average is gently sloping higher, rapidly approaching our “confluence of support” around 5600.  Given the agreement between multiple technical indicators on this price point, we consider it the most likely downside target given this week’s breakdown.

I would also point that while I feel that identifying price targets can be a helpful exercise, as it gives you a framework with which to evaluate further price action, the most important signals usually come from the price itself.  How the S&P 500 would move between current levels and 5600 may tell us a great deal about the likelihood of finding support versus a more bearish scenario in the coming weeks.

RR#6,

Dave

PS- Ready to upgrade your investment process?  Check out my free behavioral investing course!

David Keller, CMT

President and Chief Strategist

Sierra Alpha Research LLC

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice.  The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.  

The author does not have a position in mentioned securities at the time of publication.    Any opinions expressed herein are solely those of the author and do not in any way represent the views or opinions of any other person or entity.

Disney, Fox and Warner Bros. Discovery have called off plans to launch their sports streaming service, Venu, the companies said in a joint statement Friday.

“After careful consideration, we have collectively agreed to discontinue the Venu Sports joint venture and not launch the streaming service,” they said in the statement. “In an ever-changing marketplace, we determined that it was best to meet the evolving demands of sports fans by focusing on existing products and distribution channels. We are proud of the work that has been done on Venu to date and grateful to the Venu staff, whom we will support through this transition period.”

Venu was first announced in February and intended to combine the live sports assets of Fox, WBD and Disney-owned ESPN. It was initially slated to launch before the start of the NFL season in September, but was delayed in part by a legal challenge from internet TV bundler Fubo, which claimed the platform would be anticompetitive.

Together Disney, Fox and WBD control more than 50% of all U.S. sports media rights, and at least 60% of all nationally broadcast U.S. sports rights, according to the judge on the antitrust case.

The news that it would not launch came as a shock to Venu employees, who found out late Thursday night, according to people familiar with the matter. They believed they had a pathway forward to launch the service after Disney agreed earlier this week to merge its Hulu+ Live TV with Fubo, settling all litigation over Venu.

But the judge’s response in Fubo’s lawsuit questioned the legality of cable bundling in general, prompting Disney to strike the deal with Fubo, through which Disney would take 70% control of the resulting company. And two days ago, satellite providers DirecTV and Dish sent letters to federal court arguing that the legal questions brought up by the judge remained unanswered.

Rather than risk an extended lawsuit that could jeopardize bundling in general — including Disney’s efforts to bundle its own streaming entities (ESPN, Hulu and Disney+) — the three companies decided to pull the plug on Venu, according to people familiar with the company’s decisions.

Warner Bros. Discovery’s business model relies heavily on negotiating bundled carriage agreements for its many cable networks, including CNN, TNT, HGTV and Food Network.

Disney is targeting a debut of ESPN “Flagship,” an all-inclusive ESPN streaming service, for August 2025. The still unnamed ESPN streaming service will including everything that airs on ESPN’s linear network, unlike ESPN+.

Disney’s deal with Fubo, along with the company’s recent carriage renewal with DirecTV, also gives the company new ways to package so-called skinny bundles — narrower selections of channels for less money. This was the idea behind Venu: selling a smaller number of linear channels for less money than traditional cable TV.

Disclosure: Comcast, which owns CNBC parent NBCUniversal, is a co-owner of Hulu.

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