[Chart courtesy of MarketWatch.com] Moving the markets The major indexes greeted the first full week of July with a bang after the 3-day Holiday weekend, during which we were bombarded with news of more outbreaks of the coronavirus everywhere, as well as mass shootings. None of that mattered this morning, as the bullish theme prevailed right after the opening bell …
Fading Into The Weekend
[Chart courtesy of MarketWatch.com] Moving the markets An early 400-point rally in the Dow bit the dust, as the major indexes faded towards the close but managed to end up in the green for the 4th session in a row. Driving the initial gains were better than expected employment numbers of 4.8 million new jobs in June created vs. expectations …
Apples Closes More Stores—CA Closes More Restaurants—Markets Rally
[Chart courtesy of MarketWatch.com] Moving the markets Despite overnight weakness in the futures markets, positive momentum got restored on predominantly bad news, and the major indexes finished a volatile session in the green. The exception was the Dow, which hovered around its unchanged line before diving into the red at the close. The early pump was based on another “positive” …
Jolting Bullish Sentiment
[Chart courtesy of MarketWatch.com] Moving the markets On the last day of the quarter, bullish sentiment shifted into overdrive following the widely held theme of the past 90 days, that a V-shape recovery is in the cards. Of course, this rebound off the March lows has nothing to do with economic progress but everything with the Fed’s reckless money printing …
Ramping Into The End Of The Month
[Chart courtesy of MarketWatch.com] Moving the markets The explosion in US Pending Home Sales was the tie breaker today after reports that New Home Sales soared, and Existing Homes Sales plunged. The computer algos went with the rebound of 44.3% vs. 19.3% expected Pending Home Sales and pushed the major indexes to a solid green close, However, it was not …
Slumping—Then Pumping
[Chart courtesy of MarketWatch.com] Moving the markets The markets did not show us a rebound this morning, so the Domestic “Sell” signal stands—at least for the time being. We’re living in such uncertain times, that we can never be sure, nor does anybody know, if this was just one more head fake or the beginning of another devastating down trend, …