[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 …
Bobbing Around The Unchanged Line
[Chart courtesy of MarketWatch.com] Moving the markets The whipsaw moves in the major indexes continued with utter abandon when, after a nice rebound high for the session, markets hit a glass ceiling and tumbled back into the red. Traders were on edge early on when the futures failed to recover from Wednesday’s spanking, as a host of Fed speakers urged …
Tech Dumps Again—Bears Regain The Upper Hand
[Chart courtesy of MarketWatch.com] Moving the markets After equities appeared to have found some footing yesterday, resulting in a short bounce this morning, it was all downhill afterwards with the Nasdaq leading the charge into the red, as September’s struggles continued. Added CNBC: The S&P 500 and Dow are down 7.5% and 5.9%, respectively, for the month. The Nasdaq has …
The Day After: Recovering From The Selloff
[Chart courtesy of MarketWatch.com] Moving the markets Despite staggering around their respective unchanged lines for most of the session, a mid-day burst propelled the major indexes solidly into the green with the Nasdaq leading the charge. The S&P 500 snapped a 4-day losing streak supported by soothing words from the Fed: Traders also digested remarks by Federal Reserve Chairman Jerome …