[Chart courtesy of MarketWatch.com] Moving the markets Equities headed south right after the opening bell with the Dow ending its 4-day win streak. Bringing the recent rally to a halt was news that several pharmaceutical companies were facing challenges with their Covid-19 vaccines due to side effects causing 2 companies to pause its trials. Earnings season got started with banking …
Journeying Towards New Highs
[Chart courtesy of MarketWatch.com] Moving the markets The futures already indicated this day to be one for the bulls, as renewed stimulus hopes, the upcoming earnings season and just general market optimism formed the basis for another day of levitation with especially the Nasdaq receiving a nice boost of +2.6% thanks to a massive melt-up squeeze. It was the tech …
Bullish Tweets
[Chart courtesy of MarketWatch.com] Moving the markets So far, my guess that yesterday’s plunge might have been an outlier looks to be correct, as the markets staged a comeback rally by recouping more than yesterday’s losses. This came in part due to Trump walking back his tough talk by tweeting support for an immediate $25 billion for Airline Payroll package …
Markets Nosedive On Trump’s Comments
[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 …