[Chart courtesy of MarketWatch.com] Moving the markets Yesterday, I was talking about the markets being stuck in a neutral zone regarding our Domestic Trend Tacking Index (TTI) and that more evidence of either bullishness or bearishness would determine our next cause of action. We got that signal today when the major indexes plunged right after the opening bell with the …
Losing Steam
[Chart courtesy of MarketWatch.com] Moving the markets Yesterday was one of those moments, while watching the futures markets, when I had to laugh out loud. The major indexes were creeping higher when suddenly the bottom dropped out with the Down plunging over 500 points in minutes. Turns out that Trump’s trade advisor Navarro responded during a Fox News interview regarding …
Cautiously Advancing
[Chart courtesy of MarketWatch.com] Moving the markets An early choppy ride turned out better than expected, as the bullish theme increased momentum and pushed the major indexes to a green close, with especially the Nasdaq showing a solid gain and scoring a new all-time high. The Dow added a more modest +0.59% but was able to recapture its 26k milestone …
Stuck In Neutral
[Chart courtesy of MarketWatch.com] Moving the markets A lack of commitment to push the markets one way or the other was noticeably absent today, as the major indexes vacillated aimlessly around their respective unchanged lines. Not much was gained or lost, but the Nasdaq closed in the green. Today’s report on unemployment claims showed that 1.508 million more Americans filed …
Losing Steam
[Chart courtesy of MarketWatch.com] Moving the markets After three days of gains, the major indexes traded near their respective unchanged lines but dove into the red during the last hour. The exception was the Nasdaq, which gave up mid-day gains but ended up in the green. Contributing to the sell-off were reports that coronavirus cases were on the rise in …
Delightful Levitation
[Chart courtesy of MarketWatch.com] Moving the markets The futures markets kept bullish momentum alive based on news that a live-saving steroid, dexamethasone, was found to cut the risk of coronavirus death by 35% for patients on ventilators, and 20% for those on supplemental oxygen without intubation. How this will turn out is everyone’s guess at this time, but it was …