[Chart courtesy of MarketWatch.com] Moving the markets An early 100-point bounce in the Dow turned into a late trounce again with the major indexes accelerating to the downside late in the session. With only 1 day left until a key deadline for an aid package set by Pelosi becomes effective, traders took the lack progress as a bad omen and …
Tanking And Cranking
[Chart courtesy of MarketWatch.com] Moving the markets The markets took a steep dive right after the opening, with the Dow down some 300 points, after which a slow but choppy ascent pulled major indexes out of the doldrums, but they fell short of reclaiming their respective unchanged lines. The culprits for the early weakness were the same as yesterday, namely …
Dollar Dumps And Gold Pumps
[Chart courtesy of MarketWatch.com] Moving the markets Even though the markets started the session on the plus side, early enthusiasm waned, and the major indexes closed in the red for the second day in a row. The losses were modest, and a late day rebound attempt failed to push equities back above the unchanged line. Weakness appeared to accelerate after …
Shattering A 4-Day Winning Streak
[Chart courtesy of MarketWatch.com] Moving the markets Equities headed south right after the opening bell with the Dow ending its 4-day win streak. Bringing the recent rally to a halt was news that several pharmaceutical companies were facing challenges with their Covid-19 vaccines due to side effects causing 2 companies to pause its trials. Earnings season got started with banking …
Journeying Towards New Highs
[Chart courtesy of MarketWatch.com] Moving the markets The futures already indicated this day to be one for the bulls, as renewed stimulus hopes, the upcoming earnings season and just general market optimism formed the basis for another day of levitation with especially the Nasdaq receiving a nice boost of +2.6% thanks to a massive melt-up squeeze. It was the tech …
Bullish Tweets
[Chart courtesy of MarketWatch.com] Moving the markets So far, my guess that yesterday’s plunge might have been an outlier looks to be correct, as the markets staged a comeback rally by recouping more than yesterday’s losses. This came in part due to Trump walking back his tough talk by tweeting support for an immediate $25 billion for Airline Payroll package …