[Chart courtesy of MarketWatch.com] Moving the markets Yesterday’s rebound ran into a brick wall this morning with the major indexes getting stuck below their respective unchanged lines throughout the session. The usual afternoon ramp-a-thon was conspicuously absent leaving stocks no choice but to drop into a sinkhole. For sure, the path of least resistance was down, with not only a …
Keeping The Rebound Alive
[Chart courtesy of MarketWatch.com] Moving the markets Traders and investors alike tried to digest Fed head Powell’s comments that interest rates may be hiked with twice the magnitude (50 bps) as had been assumed (25 bps) due to inflation “being much too high.” Despite that hawkishness, the markets are considering Powell’s current and future planned increases as a policy error, …
Equities Drop As Larger Rate Hikes Loom
[Chart courtesy of MarketWatch.com] Moving the markets Last week’s enthusiastic rally, in the face of nothing but geopolitical and economic issues, came to an end today when Fed Head Powell rang the bell on inflationary concerns while hinting at tougher responses. After finally admitting that “inflation is much too high,” he vowed to take appropriate measures to get a better …
On The Edge Of A New Domestic Buy Signal
[Chart courtesy of MarketWatch.com] Moving the markets Equities jumped for the third straight day pushing our Domestic Trend Tracking Index (TTI) above its long-term trend line for the first time, since the effective date of our latest Sell signal on 2/24/22. As I pointed out yesterday, the markets are ignoring all the geopolitical and economic dramas (Stagflation) and are focusing …
Thriving, Diving, And Recovering
[Chart courtesy of MarketWatch.com] Moving the markets Today’s session turned into another wild ride, when an early 350-point ramp in the Dow was wiped out, with major indexes retreating to their unchanged lines, only to see them as a springboard for a last hour rebound to intra-day highs. Today we learned that the Fed, as expected, raised their Federal Funds …
Looking For Support And Finding It
[Chart courtesy of MarketWatch.com] Moving the markets The day started with another rollercoaster ride, as equity futures first plunged, along with markets in China and Europe, but a sudden U-turn, due to changing sentiment, started the ramp-a-thon, even though the scheduled Fed’s rate hike tomorrow represents the uncertainty on deck. As a result, and despite the bear’s relentless efforts …