[Chart courtesy of MarketWatch.com] Moving the markets Two forces combined to pull the markets out of the doldrums after Monday’s drubbing. For one, we saw corporate buybacks pick up speed, and two, a giant short-squeeze, now its third day, threw an assist to push the S&P 500 slightly above last Friday’s close. Both, the Nasdaq and S&P are back in …
An Early Dump Is Followed By A Late Pump
[Chart courtesy of MarketWatch.com] Moving the markets The markets lucked out, as an early sharp sell-off found some footing, after which buyers stepped in to scoop up assets at lower prices with all losses being wiped out by the end of the session. Whether that was just a one-day outlier, or a resumption of the bullish trend, remains to be …
Solid Relief Rally Wipes Out A Chunk Of Yesterday’s Losses
[Chart courtesy of MarketWatch.com] Moving the markets While the initial morning rebound faded mid-day, buyers stepped in subsequently and pushed the major indexes out of the doldrums and into a solid green close. Helping matters was China stabilizing the problem child that caused yesterday’s panic selling, namely the Juan. The PBOC (China’s main bank) fixed the Juan at 6.9683 per …
China Retaliates—Global Markets Get Clobbered—Stocks Plunge Most In 2019
[Chart courtesy of MarketWatch.com] Moving the markets The basic law of physics tells us that any ‘action’ is followed by an equal or greater ‘reaction.’ This became very clear today when, after Trump’s threat of additional tariffs last week, the Chinese retaliated by letting their currency, the Juan, float freely by removing the US dollar peg. The Juan dropped to …
ETFs On The Cutline – Updated Through 08/02/2019
Below, please find the latest High-Volume ETF Cutline report, which shows how far above or below their respective long-term trend lines (39-week SMA) my currently tracked ETFs are positioned. This report covers the HV ETF Master List from Thursday’s StatSheet and includes 322 High Volume ETFs, defined as those with an average daily volume of more than $5 million, of …
ETF Tracker Newsletter For August 2, 2019
ETF Tracker StatSheet You can view the latest version here. STARTING AUGUST IN A SEA OF RED [Chart courtesy of MarketWatch.com] Moving the markets Equities spent most of their day surrounded by a sea of red, thanks in part to further fallout from the Fed cutting rates by “only” 0.25%. The bigger impact, however, came from the follow through …