[Chart courtesy of MarketWatch.com] Moving the markets After three days of pain for the markets, the major indexes finally found some reason to dig themselves out of a deep hole, as the MSM fearmongering about the alleged Russia-Ukraine conflict lost some credibility. From my viewpoint, this was nothing but a constructed crisis, which ran out of steam today, when the …
Digging A Hole And Scrambling Out Of It—Twice
[Chart courtesy of MarketWatch.com] Moving the markets As the chart above shows, Thursday’s and Friday’s dump-a-thon continued into today’s session, with the major indexes plunging in the red, staging a recovery, plunging again, and falling short in their last hour attempt to crawl above their respective unchanged lines. Relentless headline news fear mongering about increasing tensions between Russia and Ukraine …
When All Else Fails, Start A Rumor
[Chart courtesy of MarketWatch.com] Moving the markets Starting a rumor is always a good way to keep a rally from falling apart, especially prior to one of the most eagerly awaited announcements, namely tomorrow’s CPI. Such was the case last night when, according to ZH, JPM heard “whispers of CPI below expectations,” which gave the bulls a running start. That …
Bullish Nibbling
[Chart courtesy of MarketWatch.com] Moving the markets After several breakout attempts over the past two trading sessions, the market finally found some footing that served as a base for today’s last hour lift-a-thon and pushed the major higher without a late-day sell-off ruining another effort. For a change, the rally was broad and led by the Nasdaq with the Dow …
Uncertainty Reigns
[Chart courtesy of MarketWatch.com] Moving the markets In an almost identical performance to Friday, the major indexes hugged their respective unchanged lines, before a mid-day breakout catapulted all 3 of them out of the red and into green. Unfortunately, that bullish move did not hold, and we gagged into the close thus giving the bears the upper hand—again. The sell-off …
Bulls Are Winning The Tug-Of-War—So Far
[Chart courtesy of MarketWatch.com] Moving the markets Another hard-fought battle for superiority at the unchanged line was won by the bulls today. After spending the first half of the session aimlessly meandering, the major indexes found some footing, and up we went. The gains were modest, but broad, nonetheless. As I posted yesterday, “bad news is good news,” which was …