[Chart courtesy of MarketWatch.com] Moving the markets Watching the oil and market destructions in the future’s last night, I had a pretty good idea as to what was in store for today. The Dow plunged 2,000 points, while other indexes were down over 6% with the S&P 500 locked limit down at -5% and tumbling to -7.60% after the regular …
Down The Rollercoaster We Go; Bond Yields Collapse
[Chart courtesy of MarketWatch.com] Moving the markets If you thought current market behavior is simply nuts with each rally being followed by a collapse, you are correct. Despite a slightly rising tendency, the major trend direction is anything but clear and can change on a dime the next day. Today was no different, as the economic picture and the effects …
Shifting In Reverse; A New Rally Emerges
[Chart courtesy of MarketWatch.com] Moving the markets Despite the markets tanking yesterday, after the Fed surprise 0.5% interest rate cut, today we saw another bounce back, which in part may have been contributed by last night’s outcome of the Democratic primary vote. Or, as one analyst quipped, maybe, just maybe, Biden’s gains mean Trump more likely to win…and that sent …
Fed Cuts Rates—Equities And Bond Yields Plunge
[Chart courtesy of MarketWatch.com] Moving the markets Despite the Fed’s attempt to please the markets by cutting interest rates a surprising 0.50%, an initial spike reversed and down we went, with the major indexes giving back a large chunk of yesterday’s gains. Bond yields skidded with the widely followed 10-year touching a 0-handle intra-day for the first time ever but …
Intervention Hopes Power Markets
[Chart courtesy of MarketWatch.com] Moving the markets It comes as no surprise that after last week’s market drubbing, a rebound of some sort was in order. One analyst quipped by posting the question: Can a cat with a coronavirus bounce? At least for right now, it seems that way, as the major indexes, motivated and supported by the Bank of …
Domestic TTI “Sell” Signal Confirmed—Back To Bear Market Territory
[Chart courtesy of MarketWatch.com] Moving the markets The adage that “sometimes nothing happens in a decade and sometimes a decade happens in a week” sure rang true, as the coronavirus induced sell fest continued with utter abandon with downward momentum accelerating. As I posted yesterday, my planned limited liquidation of broadly diversified domestic ETFs turned into a “Sell All” early …