[Chart courtesy of MarketWatch.com] Moving the markets The markets finally managed a solid comeback by using nothing but hope for a $2.5 trillion stimulus package as a springboard with the Dow scoring its best percentage gain (11%+) since 1933. However, history throws a shadow on that event, if you look at this chart and become aware of what happened afterwards. …
Tumbling Into A New Week
[Chart courtesy of MarketWatch.com] Moving the markets Despite the Fed saying that “aggressive action is needed” and subsequently proved it by introducing unlimited QE via purchases of $125 billion in securities every day, the markets managed to swing wildly but only “below” their respective unchanged lines. Analyst Graham Summers summed it up best: As I warned two weeks ago, the …
Limping Higher
[Chart courtesy of MarketWatch.com] Moving the markets Last night, the futures fluctuated wildly with that theme continuing throughout today’s trading day with the major indexes swinging around their respective moving averages. It appears that traders tried to figure out the possible consequences of the all-out “kitchen sink” approach by the global central banks. It’s hard to keep track of all …
Equities Get Crushed—Dow Loses The 20,000 Level
[Chart courtesy of MarketWatch.com] Moving the markets So much for yesterday’s rebound of “hope,” which got annihilated, as the major indexes took another step down. At one point, the Dow even lost its 19k level, while the S&P dropped below 2.3k, but both were pushed back up thanks to a bounce off their lows during the past 30 minutes. Those …
Stimulus Hopes Pull Stocks Out Of The Doldrums
[Chart courtesy of MarketWatch.com] Moving the markets Equities managed a nice bounce today powered higher by news that the Trump administration asked for a $1 trillion fiscal stimulus package to mitigate the fallout effects from the coronavirus. News that the Fed moved to support the commercial paper market via providing short-term funding needs, also gave an assist and elevated sentiment. …
Fed Unloads Its Biggest Bazooka Ever—Markets Crash—Dow Plunges 3,000 Points
[Chart courtesy of MarketWatch.com] Moving the markets When I was watching the futures markets last night, I already knew that today would not be a good one to be in the markets. Despite the Fed unloading its biggest emergency bazooka ever, by announcing $700 billion in QE and a full 1% reduction in interest rates to “zero,” markets immediately went …