[Chart courtesy of MarketWatch.com] Moving the markets Yesterday’s downward momentum carried over into today’s session and accelerated throughout the day, but a last hour rebound prevented a worse outcome. This is now the 4th straight day of declines for the S&P 500, which has now retreated clearly below its 200-day M/A, thereby nullifying its recent break above it. Looking at …
No Place to Hide
[Chart courtesy of MarketWatch.com] Moving the markets After last week’s rebound, that resulted in the S&P 500 finally breaking through its 200-day M/A, which has served as a glass ceiling since April, none of that feel good bullish sentiment was present today. From the opening bell, the major indexes headed south caused by sudden fears that the Fed may not …
Fed Satisfies Markets—New Buy Signals Generated
[Chart courtesy of MarketWatch.com] Moving the markets A variety of events combined forces to pull the markets out of their doldrums, while not only creating a new “Buy” signal for our Trend Tracking Indexes (section 3) but also breaking the S&P 500’s glass ceiling, namely its 200-day M/A (+0.57%). We also were re-acquainted with the fact that bad news is …
Going Nowhere
[Chart courtesy of MarketWatch.com] Moving the markets While the major indexes wandered aimlessly throughout the session, they at least managed to dig themselves out of an early hole, crawled back and reduced their losses. In the end, not much was gained or lost. Economic data points did nothing to encourage bullish sentiment with Consumer Confidence dropping in October, while Inflation …
A Post-Thanksgiving Hangover
[Chart courtesy of MarketWatch.com] Moving the markets The efforts by a few traders last week to push the markets higher on very low volume came to an end today, when the full staff returned, pushed the sell buttons, and pulled the rug out from under last week’s rally. The major indexes shifted into bearish mode, right after the opening …
Melting Up, Down And Up
[Chart courtesy of MarketWatch.com] Moving the markets It was another choppy session, as the release of the Fed’s meeting minutes (FOMC) showed a mixed picture in terms of future rates hikes. The Central Bank noted that it was seeing some progress in its inflation fighting efforts while stating that “a substantial majority of participants judged that a slowing in the …