[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 …
Dow Surrenders An Early 400-Point Gain—Domestic TTI Goes Negative
[Chart courtesy of MarketWatch.com] Moving the markets The sudden turnaround in then markets kept me from liquidating those holdings that had come close to their trailing sell stops. It’s a known fact that sharp market drops can be followed by violent rebounds, which we saw early in the session. The only problem was that this move had the smell of …
Markets Continue The Path Of Least Resistance—Down
[Chart courtesy of MarketWatch.com] Moving the markets For those hoping for a turnaround Tuesday, it did not happen, as virus headwinds continued to spread around the world. An early rebound proved to be meaningless with the downward trend remaining intact. Internationally, it was worse than domestically, with our International TTI diving below its long-term trend line by a margin large …
Coronavirus Infects Markets
[Chart courtesy of MarketWatch.com] Moving the markets World markets joined in unison by selling off with weekend news about the coronavirus continuing worries that global economies will not escape unscathed and take a hit of unknown proportions. Sure, news media and markets tend to overreact, but the negative virus effects can’t be denied, as the struggle with containment policies and …