[Chart courtesy of MarketWatch.com] Moving the markets Traders were relieved that risk of contagion to other banks appears to have been contained, at least for the time being. I think there is more to come, since additional cockroaches are likely to be hidden and will eventually surface. The major indexes rallied, dumped, and rebounded to score a green close with …
A Bailout In Progress
[Chart courtesy of MarketWatch.com] Moving the markets Apparently, Fed head Powell, Treasury Secretary Yellen and the head of the FDIC must have been in panic mode, as they combined forces by announcing (on Sunday) a plan that would backstop ALL depositors in the failed Silicon Valley Bank, while concurrently making additional funding available for other banks. Regional banks are not …
ETFs On The Cutline – Updated Through 03/10/2023
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 312 High Volume ETFs, defined as those with an average daily volume of more than $5 million, of …
ETF Tracker Newsletter For March 10, 2023
ETF Tracker StatSheet You can view the latest version here. CHAOS IN THE MARKETS [Chart courtesy of MarketWatch.com] Moving the markets February payrolls came in hotter than expected, which put the markets under pressure after the opening bell rang. 311k jobs were created, well above the consensus of 225k and higher than the hoped-for whisper number of 250k. Offsetting …
Weekly StatSheet For The ETF Tracker Newsletter – Updated Through 03/09/2023
ETF Data updated through Thursday, March 9, 2023 Methodology/Use of this StatSheet: 1. From the universe of over 1,800 ETFs, I have selected only those with a trading volume of over $5 million per day (HV ETFs), so that liquidity and a small bid/ask spread are assured. 2. Trend Tracking Indexes (TTIs) Buy or Sell decisions for Domestic and International …
Getting Hammered
[Chart courtesy of MarketWatch.com] Moving the markets After a brief sprint above their respective unchanged lines, the major indexes reversed and hit the skids, with the Dow dumping over 500 points for the second time this week, as traders braced for tomorrow’s payroll report. Remember that good news is bad news, which means a better-than-expected payroll print directly translates into …