[Chart courtesy of MarketWatch.com] Moving the markets After its worst week since March, the tech sector managed to bounce back, along with the other major indexes, to end the session solidly in the green but off the intra-day highs. The big jump happened right after the opening on news of corporate deal making and improved prospects for a Covid-19 vaccine …
Popping And Flopping
[Chart courtesy of MarketWatch.com] Moving the markets The first part of the session showed the bulls clearly in charge when suddenly Brexit concerns hit the headlines, which was followed by news that the Democrats voted to block the Republican’s stimulus bill. That was enough send stocks, bonds, and gold diving, while the dollar enjoyed a rebound rally. ZH summed up …
Comeback Wednesday
[Chart courtesy of MarketWatch.com] Moving the markets After 3 days of the markets getting slammed, with the Nasdaq having one of its worst stretches and reaching correction territory, conditions became so oversold that buyers stepped in and restored bullish momentum. As it turned out, the Nasdaq 100’s 50 day Moving Average provided critical support, at least for this session, and …
The Nasdaq Puke Continues
[Chart courtesy of MarketWatch.com] Moving the markets Last Thursday’s sharp sell-off, which continued Friday in a more moderate fashion, thanks to a late rebound, accelerated today, as the Labor Day weekend did nothing to encourage a return to bullishness. Instead, the major indexes puked again, with the Nasdaq showing the steepest losses except for crude oil, which took top billing …
Dumping Into The Red
[Chart courtesy of MarketWatch.com] Moving the markets Yesterday’s “reckless advance,” as I titled it, hit the skids today with a long overdue correction instilling some reality in the markets that nothing can go up forever nor in a straight line. As a result, the major indexes plunged with the Nasdaq setting the dubious record of giving back the most, namely …
Recklessly Advancing
[Chart courtesy of MarketWatch.com] Moving the markets Yesterday’s positive 1st trading day in the historically volatile month of September continued full force with the major indexes surging, as the S&P 500 and Nasdaq set new records in the process. Traders took some profits out of highflyers like Apple and Tesla and rotated into more beaten-down shares in other parts of …