[Chart courtesy of MarketWatch.com] Moving the markets Just as I posted the amazing fact last Wednesday that the S&P 500 had not corrected more than -0.5% in 35 days, it happened suddenly with the index shedding a moderate -0.86%. The markets got hit right at the opening with a one-two punch in form of a worse-than-expected manufacturing report and mixed …
Bullish Sentiment Rocks
[Chart courtesy of MarketWatch.com] Moving the markets The markets continued to edge higher with the Dow and Nasdaq lagging early on but picking up steam mid-session to join the S&P 500 in green territory. Along the path, more records highs were set with positive economic data providing the necessary ammunition for the gains, which accelerated into the close. There was …
Trade Optimism Keeps The Bullish Theme Alive
[Chart courtesy of MarketWatch.com] Moving the markets The major indexes managed to bounce back from early weakness and hovered safely above their respective unchanged lines bouncing in and out of record territory. The fact that trade news said absolutely nothing new but mainly regurgitated the same old stuff as “we reached consensus on properly resolving relevant issues,” while the parties …
Rosy Trade Outlook Powers Markets
[Chart courtesy of MarketWatch.com] Moving the markets The markets took another jump higher powered by some mega mergers and the good old stand-by, namely the trade talks. All last week’s concerns vanished over the weekend on China’s decision to issue guidelines and raise penalties for intellectual property theft. This was immediately interpreted as a step in the right direction boosting …
Trade Headline Volleys Soften Markets
[Chart courtesy of MarketWatch.com] Moving the markets Softness in the markets prevailed for the third day, as a bunch trade news volleys made their way back and forth and kept the major indexes in limbo. An early drop shifted into rebound mode, an occurrence we’ve seen regularly in the recent past, but it fell short of conquering the unchanged lines. …
Phase One Trade Talks: All Hat And No Cattle
[Chart courtesy of MarketWatch.com] Moving the markets The markets started the session by meandering slightly below their respective unchanged lines when a sudden dive took the starch out of any existing support. As I posted yesterday, a new headline about how close the latest trade deal might be was sure to be on deck. Well, we got trade headlines, but …