{"id":210462,"date":"2026-01-02T12:53:17","date_gmt":"2026-01-02T17:53:17","guid":{"rendered":"https:\/\/ibkrcampus.eu\/campus\/uncategorized\/another-year-another-early-head-fake\/"},"modified":"2026-01-06T17:25:46","modified_gmt":"2026-01-06T17:25:46","slug":"another-year-another-early-head-fake","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.eu\/campus\/traders-insight\/securities\/macro\/another-year-another-early-head-fake\/","title":{"rendered":"Another Year, Another Early Head Fake"},"content":{"rendered":"\n

This year seemed to be getting off to a promising start, at least if overnight futures were to be believed.  ES Futures were up nicely early in the evening (US time), up about 17 points, then picked up steam when Hong Kong and Korean shares rallied.  By the time many of us in the US woke up, those futures were about 45 points higher and NQ futures were up more than a full percent.  But as we\u2019ve seen all-too-often, the rally fizzled after a lack of follow-through buying.  Hopefully this is a temporary phenomenon.<\/p>\n\n\n\n

Indeed, as noted above, a wide range of global indices closed higher to start the year.  Both the Hang Seng (HSI) and KOSPI (K200) indices were over 2% higher, while most of their major European counterparts also rose on the day.  In fact, the Euro Stoxx 50 (ESTX) and FTSE100 (UKX) touched new all-time highs, as did the K200.  It was understandable why many traders might have expected a similar reaction in US shares \u2013 particularly the megacap tech stocks that have powered the S&P 500 (SPX) and Nasdaq 100 (NDX) higher throughout the past three years.  But after a solid start that saw most of the \u201cMag 7\u201d stocks and friends trading higher initially, the bulk of them turned lower on the session by late morning. <\/p>\n\n\n\n

It is not fair to read too much into the modest declines that prevailed by midday.  Volumes remain relatively light as many professionals are finishing up vacation weeks.  I headed into New York City this morning (here\u2019s why<\/a>) and there were literally only 12 cars at my town\u2019s train station when I parked for the 7:58 departure. There are typically hundreds of cars parked before that departure.  But I do think it is fair to wonder why stocks ended the year with a whimper when a modest bang was priced in<\/a>.<\/p>\n\n\n\n

Faithful readers know that I am a fan of old market adages, and this one is resonating with me today:<\/p>\n\n\n\n

                If Santa Claus should fail to call, bears may come to Broad and Wall<\/em><\/p>\n\n\n\n

That refers to the market\u2019s historical propensity to rally in the last five trading days of a calendar year into the first two days of the next \u2013 the so-called \u201cSanta Claus\u201d rally period.  The closing level for SPX on December 23rd<\/sup>, the day prior to the period in question was 6,909.76.  Although SPX closed at a record high of 6,932.05 on Christmas Eve, the index had lower closes on each of the remaining four trading days of 2025.  Today\u2019s activity is putting us no closer towards advancing past the close of the 23rd, though we did approach that level early in today\u2019s session.  We also seem to be repeating the lackluster trading patterns and lack of volatility that prevailed through most of the post-Christmas trading days.<\/p>\n\n\n\n

Beyond stocks, there are a few items worth watching.\u00a0 Not unrelatedly, gold and silver have continued their recent advances<\/a>.\u00a0 On the flip side, we see the spread between 2- and 10-year Treasury yields widen past 70 basis points.\u00a0 That is hardly a dire sign, especially when it is occurring on light volume, but the trend is not promising at the moment.\u00a0 If the chart below showed a stock, many technical analysts would be calling for an imminent breakout.<\/p>\n\n\n\n

Today is not a day to draw conclusions, however.   If these patterns persist next week, when I expect the commuter lots to be full once again, then we can start to make more lasting inferences.  Heck, if nothing else, Santa has one more day to bring his rally with him. <\/p>\n\n\n\n

1-Year Chart: Spread between 2- and 10-year Treasury Yields (blue\/white candles) with 30-Day Moving Average (green line)<\/em><\/strong><\/h3>\n\n\n\n
\"1-Year<\/figure>\n\n\n\n

Source: Bloomberg<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

This year seemed to be getting off to a promising start, at least if overnight futures were to be believed.\u00a0 ES Futures were up nicely early in the evening (US time), up about 17 points, then picked up steam when Hong Kong and Korean shares rallied.\u00a0 By the time many of us in the US woke up, those futures were about 45 points higher and NQ futures were up more than a full percent.\u00a0 But as we\u2019ve seen all-too-often, the rally fizzled after a lack of follow-through buying.\u00a0 Hopefully this is a temporary phenomenon.<\/p>\n","protected":false},"author":4,"featured_media":210463,"comment_status":"open","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[14,145,146,147,8,12,148,7],"tags":[3994,2453,828,907,3995],"contributors-categories":[149],"class_list":{"0":"post-210462","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-fixed-income","8":"category-ibkr-market-insights","9":"category-macro","10":"category-north-america","11":"category-region","12":"category-securities","13":"category-text-articles","14":"category-traders-insight","15":"tag-economic-reports","16":"tag-employment-data","17":"tag-fed-policy","18":"tag-market-sentiment","19":"tag-santa-rally","20":"contributors-categories-interactive-brokers"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"\nAnother Year, Another Early Head Fake | Traders' Insight<\/title>\n<meta name=\"description\" content=\"This year seemed to be getting off to a promising start, at least if overnight futures were to be believed.\u00a0 ES Futures were up nicely early in the...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/210462\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Another Year, Another Early Head Fake\" \/>\n<meta property=\"og:description\" content=\"This year seemed to be getting off to a promising start, at least if overnight futures were to be believed.\u00a0 ES Futures were up nicely early in the evening (US time), up about 17 points, then picked up steam when Hong Kong and Korean shares rallied.\u00a0 By the time many of us in the US woke up, those futures were about 45 points higher and NQ futures were up more than a full percent.\u00a0 But as we\u2019ve seen all-too-often, the rally fizzled after a lack of follow-through buying.\u00a0 Hopefully this is a temporary phenomenon.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.interactivebrokers.eu\/campus\/traders-insight\/securities\/macro\/another-year-another-early-head-fake\/\" \/>\n<meta property=\"og:site_name\" content=\"IBKR Campus EU\" \/>\n<meta property=\"article:published_time\" content=\"2026-01-02T17:53:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-01-06T17:25:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.interactivebrokers.eu\/campus\/wp-content\/uploads\/sites\/3\/2026\/01\/head-fakes-featured-img.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"563\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Steve Sosnick\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Steve Sosnick\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\n\t \"@context\": \"https:\\\/\\\/schema.org\",\n\t \"@graph\": [\n\t {\n\t \"@type\": \"Article\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/another-year-another-early-head-fake\\\/#article\",\n\t \"isPartOf\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/another-year-another-early-head-fake\\\/\"\n\t },\n\t \"author\": {\n\t \"name\": \"Steve Sosnick\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/#\\\/schema\\\/person\\\/31988d9596575a63ddc53e92049a2549\"\n\t },\n\t \"headline\": \"Another Year, Another Early Head Fake\",\n\t \"datePublished\": \"2026-01-02T17:53:17+00:00\",\n\t \"dateModified\": \"2026-01-06T17:25:46+00:00\",\n\t \"mainEntityOfPage\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/another-year-another-early-head-fake\\\/\"\n\t },\n\t \"wordCount\": 655,\n\t \"commentCount\": 0,\n\t \"image\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/another-year-another-early-head-fake\\\/#primaryimage\"\n\t },\n\t \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/3\\\/2026\\\/01\\\/head-fakes-featured-img.jpg\",\n\t \"keywords\": [\n\t \"economic reports\",\n\t \"employment data\",\n\t \"Fed policy\",\n\t \"market sentiment\",\n\t \"Santa Rally\"\n\t ],\n\t \"articleSection\": [\n\t \"Fixed Income\",\n\t \"IBKR Insights\",\n\t \"Macro\",\n\t \"North America\",\n\t \"Region\",\n\t \"Securities\",\n\t \"Text Articles\",\n\t \"Traders' Insight\"\n\t ],\n\t \"inLanguage\": \"en-US\",\n\t \"potentialAction\": [\n\t {\n\t \"@type\": \"CommentAction\",\n\t \"name\": \"Comment\",\n\t \"target\": [\n\t \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/another-year-another-early-head-fake\\\/#respond\"\n\t ]\n\t }\n\t ]\n\t },\n\t {\n\t \"@type\": \"WebPage\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/another-year-another-early-head-fake\\\/\",\n\t \"url\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/another-year-another-early-head-fake\\\/\",\n\t \"name\": \"Another Year, Another Early Head Fake - IBKR Campus EU\",\n\t \"isPartOf\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/#website\"\n\t },\n\t \"primaryImageOfPage\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/another-year-another-early-head-fake\\\/#primaryimage\"\n\t },\n\t \"image\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/another-year-another-early-head-fake\\\/#primaryimage\"\n\t },\n\t \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/3\\\/2026\\\/01\\\/head-fakes-featured-img.jpg\",\n\t \"datePublished\": \"2026-01-02T17:53:17+00:00\",\n\t \"dateModified\": \"2026-01-06T17:25:46+00:00\",\n\t \"author\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/#\\\/schema\\\/person\\\/31988d9596575a63ddc53e92049a2549\"\n\t },\n\t \"description\": \"This year seemed to be getting off to a promising start, at least if overnight futures were to be believed.\u00a0 ES Futures were up nicely early in the evening (US time), up about 17 points, then picked up steam when Hong Kong and Korean shares rallied.\u00a0 By the time many of us in the US woke up, those futures were about 45 points higher and NQ futures were up more than a full percent.\u00a0 But as we\u2019ve seen all-too-often, the rally fizzled after a lack of follow-through buying.\u00a0 Hopefully this is a temporary phenomenon.\",\n\t \"breadcrumb\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/another-year-another-early-head-fake\\\/#breadcrumb\"\n\t },\n\t \"inLanguage\": \"en-US\",\n\t \"potentialAction\": [\n\t {\n\t \"@type\": \"ReadAction\",\n\t \"target\": [\n\t \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/another-year-another-early-head-fake\\\/\"\n\t ]\n\t }\n\t ]\n\t },\n\t {\n\t \"@type\": \"ImageObject\",\n\t \"inLanguage\": \"en-US\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/another-year-another-early-head-fake\\\/#primaryimage\",\n\t \"url\": \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/3\\\/2026\\\/01\\\/head-fakes-featured-img.jpg\",\n\t \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/3\\\/2026\\\/01\\\/head-fakes-featured-img.jpg\",\n\t \"width\": 1000,\n\t \"height\": 563\n\t },\n\t {\n\t \"@type\": \"BreadcrumbList\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/another-year-another-early-head-fake\\\/#breadcrumb\",\n\t \"itemListElement\": [\n\t {\n\t \"@type\": \"ListItem\",\n\t \"position\": 1,\n\t \"name\": \"Home\",\n\t \"item\": \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/\"\n\t },\n\t {\n\t \"@type\": \"ListItem\",\n\t \"position\": 2,\n\t \"name\": \"Another Year, Another Early Head Fake\"\n\t }\n\t ]\n\t },\n\t {\n\t \"@type\": \"WebSite\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/#website\",\n\t \"url\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/\",\n\t \"name\": \"IBKR Campus EU\",\n\t \"description\": \"\",\n\t \"potentialAction\": [\n\t {\n\t \"@type\": \"SearchAction\",\n\t \"target\": {\n\t \"@type\": \"EntryPoint\",\n\t \"urlTemplate\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/?s={search_term_string}\"\n\t },\n\t \"query-input\": {\n\t \"@type\": \"PropertyValueSpecification\",\n\t \"valueRequired\": true,\n\t \"valueName\": \"search_term_string\"\n\t }\n\t }\n\t ],\n\t \"inLanguage\": \"en-US\"\n\t },\n\t {\n\t \"@type\": \"Person\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/#\\\/schema\\\/person\\\/31988d9596575a63ddc53e92049a2549\",\n\t \"name\": \"Steve Sosnick\",\n\t \"description\": \"Steve is the Chief Strategist at Interactive Brokers. He has held numerous roles in the organization since joining Timber Hill, IBKR\u2019s predecessor, in 1995 as Equity Risk Manager and an options market maker. He developed and implemented automated trading strategies for stocks and options before moving into his current role. Steve has guest authored several columns in Barron\u2019s and made numerous live on Bloomberg TV and Radio, CNBC, Yahoo Finance, Fox Business, and several other media outlets several media outlets in North America, Asia, Australia, and the Middle East in addition to being quoted frequently in print and electronic media. Prior to joining Interactive Brokers, Sosnick held senior trading roles at Morgan Stanley, Lehman Brothers, and Salomon Brothers, where he completed the firm\u2019s famed training program.\",\n\t \"sameAs\": [\n\t \"https:\\\/\\\/ibkr.com\"\n\t ],\n\t \"url\": \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/author\\\/steve-sosnick\\\/\"\n\t }\n\t ]\n\t}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Another Year, Another Early Head Fake | Traders' Insight","description":"This year seemed to be getting off to a promising start, at least if overnight futures were to be believed.\u00a0 ES Futures were up nicely early in the...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/210462\/","og_locale":"en_US","og_type":"article","og_title":"Another Year, Another Early Head Fake","og_description":"This year seemed to be getting off to a promising start, at least if overnight futures were to be believed.\u00a0 ES Futures were up nicely early in the evening (US time), up about 17 points, then picked up steam when Hong Kong and Korean shares rallied.\u00a0 By the time many of us in the US woke up, those futures were about 45 points higher and NQ futures were up more than a full percent.\u00a0 But as we\u2019ve seen all-too-often, the rally fizzled after a lack of follow-through buying.\u00a0 Hopefully this is a temporary phenomenon.","og_url":"https:\/\/www.interactivebrokers.eu\/campus\/traders-insight\/securities\/macro\/another-year-another-early-head-fake\/","og_site_name":"IBKR Campus EU","article_published_time":"2026-01-02T17:53:17+00:00","article_modified_time":"2026-01-06T17:25:46+00:00","og_image":[{"width":1000,"height":563,"url":"https:\/\/www.interactivebrokers.eu\/campus\/wp-content\/uploads\/sites\/3\/2026\/01\/head-fakes-featured-img.jpg","type":"image\/jpeg"}],"author":"Steve Sosnick","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Steve Sosnick","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ibkrcampus.eu\/campus\/traders-insight\/securities\/macro\/another-year-another-early-head-fake\/#article","isPartOf":{"@id":"https:\/\/ibkrcampus.eu\/campus\/traders-insight\/securities\/macro\/another-year-another-early-head-fake\/"},"author":{"name":"Steve Sosnick","@id":"https:\/\/ibkrcampus.eu\/campus\/#\/schema\/person\/31988d9596575a63ddc53e92049a2549"},"headline":"Another Year, Another Early Head Fake","datePublished":"2026-01-02T17:53:17+00:00","dateModified":"2026-01-06T17:25:46+00:00","mainEntityOfPage":{"@id":"https:\/\/ibkrcampus.eu\/campus\/traders-insight\/securities\/macro\/another-year-another-early-head-fake\/"},"wordCount":655,"commentCount":0,"image":{"@id":"https:\/\/ibkrcampus.eu\/campus\/traders-insight\/securities\/macro\/another-year-another-early-head-fake\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.eu\/campus\/wp-content\/uploads\/sites\/3\/2026\/01\/head-fakes-featured-img.jpg","keywords":["economic reports","employment data","Fed policy","market sentiment","Santa Rally"],"articleSection":["Fixed Income","IBKR Insights","Macro","North America","Region","Securities","Text Articles","Traders' Insight"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ibkrcampus.eu\/campus\/traders-insight\/securities\/macro\/another-year-another-early-head-fake\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ibkrcampus.eu\/campus\/traders-insight\/securities\/macro\/another-year-another-early-head-fake\/","url":"https:\/\/ibkrcampus.eu\/campus\/traders-insight\/securities\/macro\/another-year-another-early-head-fake\/","name":"Another Year, Another Early Head Fake - IBKR Campus EU","isPartOf":{"@id":"https:\/\/ibkrcampus.eu\/campus\/#website"},"primaryImageOfPage":{"@id":"https:\/\/ibkrcampus.eu\/campus\/traders-insight\/securities\/macro\/another-year-another-early-head-fake\/#primaryimage"},"image":{"@id":"https:\/\/ibkrcampus.eu\/campus\/traders-insight\/securities\/macro\/another-year-another-early-head-fake\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.eu\/campus\/wp-content\/uploads\/sites\/3\/2026\/01\/head-fakes-featured-img.jpg","datePublished":"2026-01-02T17:53:17+00:00","dateModified":"2026-01-06T17:25:46+00:00","author":{"@id":"https:\/\/ibkrcampus.eu\/campus\/#\/schema\/person\/31988d9596575a63ddc53e92049a2549"},"description":"This year seemed to be getting off to a promising start, at least if overnight futures were to be believed.\u00a0 ES Futures were up nicely early in the evening (US time), up about 17 points, then picked up steam when Hong Kong and Korean shares rallied.\u00a0 By the time many of us in the US woke up, those futures were about 45 points higher and NQ futures were up more than a full percent.\u00a0 But as we\u2019ve seen all-too-often, the rally fizzled after a lack of follow-through buying.\u00a0 Hopefully this is a temporary phenomenon.","breadcrumb":{"@id":"https:\/\/ibkrcampus.eu\/campus\/traders-insight\/securities\/macro\/another-year-another-early-head-fake\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ibkrcampus.eu\/campus\/traders-insight\/securities\/macro\/another-year-another-early-head-fake\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.eu\/campus\/traders-insight\/securities\/macro\/another-year-another-early-head-fake\/#primaryimage","url":"https:\/\/www.interactivebrokers.eu\/campus\/wp-content\/uploads\/sites\/3\/2026\/01\/head-fakes-featured-img.jpg","contentUrl":"https:\/\/www.interactivebrokers.eu\/campus\/wp-content\/uploads\/sites\/3\/2026\/01\/head-fakes-featured-img.jpg","width":1000,"height":563},{"@type":"BreadcrumbList","@id":"https:\/\/ibkrcampus.eu\/campus\/traders-insight\/securities\/macro\/another-year-another-early-head-fake\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.interactivebrokers.eu\/campus\/"},{"@type":"ListItem","position":2,"name":"Another Year, Another Early Head Fake"}]},{"@type":"WebSite","@id":"https:\/\/ibkrcampus.eu\/campus\/#website","url":"https:\/\/ibkrcampus.eu\/campus\/","name":"IBKR Campus EU","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ibkrcampus.eu\/campus\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/ibkrcampus.eu\/campus\/#\/schema\/person\/31988d9596575a63ddc53e92049a2549","name":"Steve Sosnick","description":"Steve is the Chief Strategist at Interactive Brokers. He has held numerous roles in the organization since joining Timber Hill, IBKR\u2019s predecessor, in 1995 as Equity Risk Manager and an options market maker. He developed and implemented automated trading strategies for stocks and options before moving into his current role. Steve has guest authored several columns in Barron\u2019s and made numerous live on Bloomberg TV and Radio, CNBC, Yahoo Finance, Fox Business, and several other media outlets several media outlets in North America, Asia, Australia, and the Middle East in addition to being quoted frequently in print and electronic media. Prior to joining Interactive Brokers, Sosnick held senior trading roles at Morgan Stanley, Lehman Brothers, and Salomon Brothers, where he completed the firm\u2019s famed training program.","sameAs":["https:\/\/ibkr.com"],"url":"https:\/\/www.interactivebrokers.eu\/campus\/author\/steve-sosnick\/"}]}},"jetpack_featured_media_url":"https:\/\/www.interactivebrokers.eu\/campus\/wp-content\/uploads\/sites\/3\/2026\/01\/head-fakes-featured-img.jpg","_links":{"self":[{"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/posts\/210462","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/comments?post=210462"}],"version-history":[{"count":0,"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/posts\/210462\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/media\/210463"}],"wp:attachment":[{"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/media?parent=210462"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/categories?post=210462"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/tags?post=210462"},{"taxonomy":"contributors-categories","embeddable":true,"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/contributors-categories?post=210462"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}