[Chart courtesy of MarketWatch.com] Moving the markets Volatility reigned supreme in the markets, but in the end, this session did not turn out as bad as had been feared over the weekend. With the Russia-Ukraine war heating up and sanctions being announced around the world, there will be more fallout ahead for all parties involved. After being down some 500 …
Digging Out Of A Deep Hole
[Chart courtesy of MarketWatch.com] Moving the markets The Russian-Ukraine saber rattling shifted into overdrive and pulled equities down sharply with the Dow down over 850 points at its low of the session. As if by magic, a stunning afternoon comeback managed to wipe out all the morning’s losses with the major indexes ending in the green, as the Nasdaq ruled …
Domestic “Sell” Signal Generated
[Chart courtesy of MarketWatch.com] Moving the markets Finally, after several weeks of bouncing above and below my domestic trend line, which separates bullish from bearish territory, today’s downside piercing was enough to confirm that the existing “Buy” cycle had finally come to an end. For tracking purposes, the effective date will be tomorrow, February 24th. This shift to “Sell” mode …
Melting Down And Not Melting Up
[Chart courtesy of MarketWatch.com] Moving the markets Given the overall geopolitical tensions, some real and some made up, I would have expected the markets to take a steeper dive. However, the pullback was slow and steady with no panic selling, but a melt-up attempt during the last hour hit the skids. The major indexes gave back over 1% with the …
On The Cusp Of A Sell Signal
[Chart courtesy of MarketWatch.com] Moving the markets If you think recent market behavior was downright nutty, nonsensical, and non-directional, you are not only correct, but you are also not alone. After Tuesday’s relief bounce, and yesterday’s comeback, traders were disappointed today that there was no follow-through buying, but also that the bears emerged full force and slammed the major indexes …
Diving And Thriving
[Chart courtesy of MarketWatch.com] Moving the markets The major indexes took another opening dive and hovered at their low points for most of the day. Traders were anxiously waiting for the release of the latest FOMC minutes (January), which showed the Fed’s plan to accelerate interest rate hikes but without providing details about its Quantitative Tightening (QT) intentions. This lack …