[Chart courtesy of MarketWatch.com] Moving the markets Even though the futures markets benefited for a little while from Microsoft’s blow-out earnings yesterday, that positive sentiment did not last long with the major indexes plunging right at the opening of the regular session. A few factors came into play and contributed to today’s plunge: The markets melted up over the past …
Clinging To The Unchanged Line
[Chart courtesy of MarketWatch.com] Moving the markets The direction the futures markets take is not always an indication as to what will happen during the regular trading session. Such was the case last night, with the major indexes were down some -0.5%, but they opened in the green yet ended up meandering aimlessly all day. Even Nasdaq trading was subdued …
Dropping And Popping
[Chart courtesy of MarketWatch.com] Moving the markets One look at the above chart tells you that an early excursion above the unchanged line came to a sudden halt, when the bottom dropped out with the major indexes doing their best imitation of a swan dive. Even the Nasdaq, up early by +1.3% lost it all, crashed into the red, but …
Riding The Range
[Chart courtesy of MarketWatch.com] Moving the markets After yesterday’s euphoric dash to all-time highs, the futures continued their relentless march higher, still boosted by optimism that a giant wave of fiscal spending will not only power corporate earnings but also revive, or rather rescue, economic growth. However, that reckless enthusiasm was tempered somewhat during the regular session with the major …
New President—New All-Time Highs
[Chart courtesy of MarketWatch.com] Moving the markets The futures markets bounced around in record territory supported by positive earnings and continued prospects of much more stimulus as Biden prepared to take charge. This bullish bias was sustained from the opening bell and, after a smooth transition of power, the major indexes shifted into overdrive and never looked back. The top …
Stimulus Hope And Earnings Outlook Power Markets
[Chart courtesy of MarketWatch.com] Moving the markets The futures markets continued their rebound from yesterday into the regular session and recouped all of Friday’s losses. Propped up by Biden’s $1.9 trillion fiscal stimulus package, traders and algos alike shoved the markets higher with the major indexes never threatening to dip into the red. Helping the bullish mood was willingness by …