[Chart courtesy of MarketWatch.com] Moving the markets The stock market had a strong finish on Wednesday, overcoming a sluggish start and a midday dip. The S&P 500 turned positive for the month, while the Dow trailed behind the Nasdaq. The rally was fueled by optimism about a debt ceiling deal, as House Speaker McCarthy signaled progress in talks with President …
Markets Rally on Debt Deal Hopes, But Will It Last?
[Chart courtesy of MarketWatch.com] Moving the markets The markets were sluggish at first, but then they revved up their engines, as traders felt optimistic about a debt ceiling deal in the making. They were cheered by the words of speaker McCarthy, who said what Wall Street wanted to hear: “better progress”, “it’s possible to get a deal by the end …
Heading South
[Chart courtesy of MarketWatch.com] Moving the markets Home Depot’s dismal revenue report and bleak outlook sent the markets tumbling in the morning. The company blamed everything from bad weather to weak lumber prices to stingy consumers for its worst miss in two decades. The stock lost 5% of its value before clawing back some ground. Meanwhile, some mixed signals from …
Riding The Range
[Chart courtesy of MarketWatch.com] Moving the markets Last week’s moderate loss in the major indexes represented the S&P 500’s first two-week losing streak since February, with the overwhelming uncertainty being created by the ongoing debt ceiling negotiations. We’re stuck in no man’s land waiting for decisions to be made, so markets can gain some traction and stop treading water. In …
ETFs On The Cutline – Updated Through 05/12/2023
Below, you can evaluate 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, …
ETF Tracker Newsletter For May 12, 2023
ETF Tracker StatSheet You can view the latest version here. STRUGGLING FOR GUIDANCE [Chart courtesy of MarketWatch.com] Moving the markets Traders were still trying to digest the double punch in the form of the struggling economy and the ongoing uncertainties in the banking sector. Neither provided any motivation to hold on to equities, so south we went. However, as …