[Chart courtesy of MarketWatch.com] Moving the markets As far as the markets are concerned, uncertainty is the worst of any outcome, a theory which proved to be the correct today, as the results of the midterm elections provided no clear answers as to who would control Congress or the Senate. Traders had assumed the Republicans being able to easily score …
Riding The Bucking Bronco
[Chart courtesy of MarketWatch.com] Moving the markets A bucking bronco type of market behavior seemed to be perfectly complementing this election day with its own ups and downs, irregularities, and accusations. The major indexes stormed out of the gate and ripped higher with the Dow at one point sporting a 500-point gain, which collapsed, as the index almost broke below …
Bouncing Into Election Day
[Chart courtesy of MarketWatch.com] Moving the markets The markets shrugged off a supply warning from Apple and extended Friday’s bounce into a week that could present unexpected surprises. The obvious one is tomorrow’s mid-term elections, the outcome of which could very well affect the direction of future spending as well as create a political gridlock. Any kind of stalemate is …
Fed Signals More Rate Hikes On Deck—Markets Tank
[Chart courtesy of MarketWatch.com] Moving the markets Despite the Fed doing the expected, namely hiking rates another 75bps and hinting at a policy change in the future, eliciting bullish momentum at first, things went the opposite way after Powell suggested that “the ultimate level of interest rates will be higher than previously expected.” The overall tone of the FOMC statement …
Bracing For The Fed
[Chart courtesy of MarketWatch.com] Moving the markets After an early bounce, the major indexes faded below their respective trend lines and spent the session aimlessly meandering in anticipation of the Fed’s decision on interest rates tomorrow. As I posted before, a hike of 75bps is pretty much a lock, but the much-anticipated question as to what they will do in …
October Recoups A Chunk Of September’s Losses
[Chart courtesy of MarketWatch.com] Moving the markets During the month of September, the S&P 500 tanked and lost -9.3% with the index meandering sideways for the first 12 days of October. Suddenly, a slow climb out of that deep hole gathered momentum with all major indexes staging a remarkable bear market bounce that stopped just short of generating a new …