[Chart courtesy of MarketWatch.com] Moving the markets Aimless meandering probably best describes today’s session during which traders looked in vain for catalysts to establish market direction. There were none, so we bounced around the unchanged line in a narrow range, as neither bulls nor bears could find some footing. In the end, the major indexes closed slightly in the red; …
Losing Support And Dumping Into The Red
[Chart courtesy of MarketWatch.com] Moving the markets Sure, eventually there had to be a market pullback, as only hype and euphoria surrounded the U.S.-China trade talks with hard evidence of progress still seeming to be nebulous. This is what we saw today, as optimism about a concrete resolution simply faded. An early rally vanished in a hurry with the Dow …
Clawing Back
[Chart courtesy of MarketWatch.com] Moving the markets We started the day out in the red with some economic data contributing to the slide as US factory orders fell for the second month in a row. January pending home sales managed to rebound more than expected (+4.6% vs. 1% MoM) but continued to tumble year-over-year for the 13th straight month. Then …
Struggling For Dominance
[Chart courtesy of MarketWatch.com] Moving the markets The markets were on standby this morning hanging on every word that Fed chair Powell was uttering at a congressional testimony. He confirmed that the central bank has adopted a wait-and-see approach due to some economic data having pointed to slower U.S. growth, despite a report showing an increase in consumer confidence. He …
Bouncing And Fading
[Chart courtesy of MarketWatch.com] Moving the markets An early bounce had the S&P 500 piercing its overhead resistance zone, namely the 2,800 point. However, the index was not able to hold on, as a slow and steady decline pulled equities off their lofty levels. Good thing we ran out of time, or we might have seen a red close. As …
ETF Tracker Newsletter For February 22, 2019
ETF Tracker StatSheet https://theetfbully.com/2019/02/weekly-statsheet-for-the-etf-tracker-newsletter-updated-through-02-21-2019/ A SEA OF GREEN; TRADE TALK OPTIMISM IS ALIVE AND WELL [Chart courtesy of MarketWatch.com] Moving the markets It sure seems that complacency rules supreme when it comes to market behavior with yesterday’s bad news, when a bombardment of economic data missed, either being forgotten or at best can be seen in the rear-view mirror. Trade …