[Chart courtesy of MarketWatch.com] Moving the markets As the futures last night indicated, today would be a downer for the markets, and that’s exactly how it turned out. The Dow was down over 900 points mid-day but recovered to “only” close in the red by some -500 points. The other two major indexes slumped in similar fashion but recouped better …
The Roller Coaster Ride Accelerates
[Chart courtesy of MarketWatch.com] Moving the markets Yesterday, I pointed towards more choppiness in the markets and, as if on command, we witnessed a wild roller coaster ride today. It started with a huge dump, followed by a pump to the unchanged line, which was followed by another dump and a failed last-ditch effort to get to green. The futures …
Fed Keeps Rates Unchanged—An Early Pop Is Followed By A Late Drop
[Chart courtesy of MarketWatch.com] Moving the markets The Fed did everything it could to put a positive spin on its pledge to keep rates low for the next few years: The U.S. central bank kept interest rates near zero. Members of the Fed’s policymaking committee also indicated the overnight rate could stay near zero through 2023. “With inflation running persistently …
Tech In Rebound Mode
[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 …