[Chart courtesy of MarketWatch.com] Moving the markets A choppy but nevertheless positive follow through rally from yesterday’s rebound ran into a brick wall, reversed, and nosedived during the last hour of the session. This would have not been a surprise had the usual suspects, like Covid-19 or the always headline-worthy tug-of-war stimulus battles been the cause, but today was different. …
Rebounding With A Bang
[Chart courtesy of MarketWatch.com] Moving the markets After the markets ended last week with a whimper, there was none of that left today, as the major indexes jumped out of the gate, never looked back, and shifted into overdrive during the last hour. The result was a solid and broad advance supported by various news headlines. One was the announcement …
Early Gains Dwindle
[Chart courtesy of MarketWatch.com] Moving the markets The futures market already fluctuated between stimulus pessimism and optimism causing the S&P to oscillate wildly, as this chart shows. The regular session continued with that volatile theme when, similarly to yesterday, an early rally hit a brick wall with the indexes resembling a roller-coaster ride. The exception was the Nasdaq, which continued …
Ending The Quarter With A Bounce
[Chart courtesy of MarketWatch.com] Moving the markets After the somewhat chaotic US presidential debate, the future markets headed lower by as much as 1%, with Asian trading being sloppy and choppy, while Europe also headed south. None of that mattered, as renewed hopes for further coronavirus stimulus pushed the major indexes to higher levels throughout the session in addition to …
Early Bounce—Late Trounce
[Chart courtesy of MarketWatch.com] Moving the markets Today was opposite day. After yesterday’s strong rally fed by enthusiasm over a fresh stimulus deal and new coronavirus vaccines, today’s early bounce hit the skids, as all these fuzzy feelings gave way to the reality that nothing may be accomplished, while pandemic deaths are on the rise in NY. In the end, …
Bulls In Charge
[Chart courtesy of MarketWatch.com] Moving the markets Last week’s sour market sentiment started to swing in the opposite direction on Friday with equity bulls sensing a turnaround, despite election uncertainty. Even though September has been a down month, it was not as bad as originally feared by traders, hence the sudden outlook that the bull may have more room to …