[Chart courtesy of MarketWatch.com] Moving the markets Prophecies about which of the two Presidential contenders would give Wall Street more of what it needs to keep the bullish dream alive, namely continued reckless money creation, prompted ZH to post this succinct summary: After reading months of ridiculously goalseeked Wall Street commentary, where first a Trump victory was the best outcome …
Digging A Hole And Staying In It
[Chart courtesy of MarketWatch.com] Moving the markets The markets dug themselves an early hole and never managed to climb out of it, despite several attempts. But, in the end downside momentum accelerated, and we closed at the lows for the day. The futures again pointed to weakness with Germany and France set to impose new lockdowns in addition to the …
Bouncing Like A Pinball
[Chart courtesy of MarketWatch.com] Moving the markets One look at the S&P 500 chart above shows the lack of direction and the aimless meandering that underscored today’s session with 2 of the 3 major indexes closing in the red by a small margin. If I am repeating myself, it’s only because the same issues are plaguing the markets, rising coronavirus …
Volatility Pops—Market Drops
[Chart courtesy of MarketWatch.com] Moving the markets The futures markets already indicated equity weakness, which was confirmed after the opening bell rang. Stocks opened in the red and dove for most of the session until some buyers stepped in and reduced the early losses. The storyline was the same as we heard last week, except traders have now come accept …
Hope For Stimulus Reigns Supreme
[Chart courtesy of MarketWatch.com] Moving the markets The never-ending stimulus saga continued to govern the headlines, as artful rhetoric by skilled politicians kept the hope alive that a compromise will still be a possibility—soon. Posted CNBC: Pelosi said Thursday a deal on new coronavirus aid was “just about there.” She also said: “If we were not making progress, I wouldn’t …
Chopping And Flopping
[Chart courtesy of MarketWatch.com] Moving the markets A roller coaster ride best describes today’s session with the markets homing in on every stimulus word uttered, then jumping on hopeful comments while slipping on disappointing news. Nothing else seemed to matter. Goldman Sachs economist Alec Phillips noted that “the biggest issues remain unresolved and a deal doesn’t seem particularly close.” “With …