[Chart courtesy of MarketWatch.com] Moving the markets An early rally bit the dust during the last 2 trading hours with the major indexes surrendering early gains and dumping into the red. Given recent advances the drop was modest with the Dow and Nasdaq faring the best with a loss of -0.22% and -0.12% respectively. MidCaps and GLD hung around the …
In Rebound Mode
[Chart courtesy of MarketWatch.com] Moving the markets After yesterday’s modest pullback, the major indexes continued to aimlessly vacillate around their respective unchanged lines throughout most of the session. A last hour push created enough upward momentum to assure a green close. The Nasdaq led the charge with a gain +0.28%, despite the FANGs tanking. But, as has been the case …
Stumbling Off The Highs
[Chart courtesy of MarketWatch.com] Moving the markets The futures market already indicated a negative bias with US equities and global stocks dropping off their record highs on Friday. A sense of caution dashed across trading desks, as questionable economic data, hopes for more stimulus, political turmoil and the continued barrage of Covid-19 cases combined to give the bears something to …
Focusing On The Coming Stimulus Bonanza
[Chart courtesy of MarketWatch.com] Moving the markets The mood today was up, up, and away with hardly any intra-day corrections. An early jump set the major indexes on track for smooth sailing throughout the session with all of them ending in record territory. Traders decided that after the roller coaster ride of the past few days, and the political tug-of-war …
Maintaining The Bullish Theme
[Chart courtesy of MarketWatch.com] Moving the markets Following the Georgia run-off elections, which are favoring the Democrats, the markets were in a split mode with bond yields and SmallCaps surging, even though the US Dollar and the tech sector were stumbling. Gold did its best imitation of a swan dive and gave up its YTD gains. It’s widely assumed that, …
Finding Support
[Chart courtesy of MarketWatch.com] Moving the markets Even though the futures markets were mired in uncertainty and failed to rebound from Monday’s collapse, it was a different story once the cash markets opened. The major indexes found some footing, dipped mid-day, but then staged a rebound that ended up in a green close. As posted yesterday, the looming Georgia runoffs …