[Chart courtesy of MarketWatch.com] Moving the markets In the end, today was nothing but one gigantic roller coaster ride, as an early rally lost steam, then found some fresh upward momentum, which was all given back at the close. Maybe the early pump was the result of Apple’s blow-out earnings announced yesterday after the close, but it sure had no …
Climbing Out Of A Hole
[Chart courtesy of MarketWatch.com] Moving the markets Despite coming off the intra-day highs at the close, the major indexes managed to climb out of hole, and close in the green for the first time in the past three trading sessions, although a major short-squeeze gave an assist in that effort. Coronavirus fears subsided a little, as China appears to have …
Facing A Sea Of Red
[Chart courtesy of MarketWatch.com] Moving the markets As was no surprise, more fallout from the coronavirus over the weekend made its presence felt with all markets showing red numbers. Again, given the relentless melt up since October, a correction was way overdue, and this one occurred as black swan event by coming out of nowhere and resulting in the first …
Moving From Optimism To Pessimism, But Markets Recover
[Chart courtesy of MarketWatch.com] Moving the markets As this chart shows, news about the coronavirus played havoc with market direction over the past 3 days, with optimism causing rallies and pessimism pulling equities back down. The overall impact was relatively minor so far, given the relentless march higher over the past few months. An early drop caught some support, and …
Snapping The Winning Streak
[Chart courtesy of MarketWatch.com] Moving the markets Sometimes, any reason will do for the markets to pull back, especially after they’ve been on a relentless tear. Today, news of the first case of the coronavirus in the U.S. seemed to dampen spirits, and risk assets were sold. No surprise there, because after the record setting run of the major indexes, …
Surfing On A Wave Of Optimism
[Chart courtesy of MarketWatch.com] Moving the markets While yesterday’s initial market reaction to the signing of the Phase-1 US-China trade deal was merely a yawn followed by a modest sell-off, today things looked different. Optimism was soaring with the major indexes scoring new record highs, as traders had a chance to digest the trade truce. The 96-page agreement lays out …