[Chart courtesy of MarketWatch.com] Moving the markets Two of the three major indexes found themselves in an early hole, but late session bullishness reversed the initial trend and assured a steady upward climb. The Dow reached its unchanged line, the S&P 500 ended up with moderate gains, but the Nasdaq bounced in the green all day and produced a solid …
Churning And Burning
[Chart courtesy of MarketWatch.com] Moving the markets It had to happen eventually, and today was the day when Atlanta Fed President Bostic finally broke away from the common theme, and confirmed what I have been saying all year: Price surges caused by supply-chain disruptions, or the reopening of the services sector are likely to last, i.e., they are not transitory, …
Cranking And Tanking
[Chart courtesy of MarketWatch.com] Moving the markets An early broad rally bit the dust, with the major indexes losing all initial gains and not just sliding into the red but also closing at the lows of the session. While the bond market was closed in the US, the Chinese probably wish theirs would have been too, but no such luck. …
Market Ping Pong Continues
[Chart courtesy of MarketWatch.com] Moving the markets During the early part of today’s session, the market ping-pong continued, when the major indexes took a steep dive with the Dow down some 400 points and on pace to again wipe out the previous day’s gains. However, a slow but steady rebound ensued with equities digging themselves out of a deep hole …
Bulls Fight Back To Stay In The Game
[Chart courtesy of MarketWatch.com] Moving the markets We have now witnessed a continued roller coaster with no clear direction but huge daily swings in equities. Over the past 4 trading days, we noted this pattern: down, up, down, up with today’s rally bringing the S&P 500 just about back to last Wednesday’s price. In other words, not much was gained …
Cooling Off—Tech Gets Battered
[Chart courtesy of MarketWatch.com] Moving the markets After Friday’s levitation to start the month of October on a positive note, much of that enthusiasm waned, as the mood soured thereby pushing the major indexes into the red. The Dow fared the best and the Nasdaq the worst, because of higher interest rates exacting another pound of flesh from this sector. …