[Chart courtesy of MarketWatch.com] Moving the markets Nothing mattered today other the release of the Fed minutes. There were no surprises with the policy meeting notes showing that the Central Bank is prepared to raise rates further than anticipated. This should have been reason enough for a sell off, but that did not happen. A deeper analysis of the minutes …
Digging A Hole—And Almost Climbing Out Of It
[Chart courtesy of MarketWatch.com] Moving the markets One look at the above chart tells the story of the day. With the Dow down over 450 points early in the session, a rebound attempt showed some promise, but it was only the Dow, which ended up at the unchanged line. Even though the S&P 500 greatly reduced its early losses, the …
Battling Back
[Chart courtesy of MarketWatch.com] Moving the markets Finally, the markets were able to build on early gains, with the bulls at last managing to score a winning session. As I posted Friday, I suspected as much due to balanced mutual funds having to go through their monthly rebalancing efforts this week. This move pulled the S&P 500 out of Friday’s …
A Dead-Cat Bounce Dies With A Vengeance
[Chart courtesy of MarketWatch.com] Moving the markets Despite yesterday’s bullish euphoria, reality set in today and informed those, who had not gotten the message yet, that we are indeed in bear market territory, in which hopeful bounces tend to die quickly. Today’s action would be better described as a “puke fest,” with every asset class, except gold, being spanked with …
Bargain Hunters On The Loose
[Chart courtesy of MarketWatch.com] Moving the markets Finally, an early advance, despite some mid-day pullbacks, continued its bullish trend, and the major indexes closed solidly in the green. Of course, the question remains whether upward momentum can be sustained in view of mounting concerns that the economy will tip into a recession later this year. Contributing to this rebound may …
Another Bounce-Back Bites The Dust
[Chart courtesy of MarketWatch.com] Moving the markets Friday’s rebound of hope found some support mid-session today, but suddenly lost steam and the major indexes headed back into the red except for the Dow, which eked out a small gain. It was another frustrating day for the bulls, with especially the Nasdaq getting hit hard again. Trading was choppy as concerns …