[Chart courtesy of MarketWatch.com] Moving the markets The Dow dropped some 300 points right after the opening but managed to recover and return to the unchanged line, before a massive selling bout sent it back down some 500 points. All 3 major indexes lost in excess of 2%. Intra-day, the S&P 500 took out its February low for the year …
Zig-Zagging To Nowhere
[Chart courtesy of MarketWatch.com] Moving the markets And the same story continues. An early rally ran into overhead resistance with markets fading the remainder of the session with neither bulls nor bears winning the tug-of-war as the “sell the rip” theme lingered on. The major indexes closed mixed with only the Dow squeezing out a fractional gain, while the S&P …
Giving Back Most Of The Early Gains
[Chart courtesy of MarketWatch.com] Moving the markets An early ramp ran into resistance around mid-day when sentiment turned bearish, and sellers pulled the major indexes not just off their high points but also to a close at the lows of the day. Good thing the clock ran out, or we might have seen another reversal with nothing to show for. …
Traders Sell The Rip
[Chart courtesy of MarketWatch.com] Moving the markets An early follow through to the upside from yesterday’s rebound ran into resistance quickly, as traders were more comfortable adopting the mantra “let’s sell the rip” rather than believing the rally had substance to it. The Dow and the S&P 500 surrendered all gains and closed in the red with the Nasdaq barely …
Climbing Out Of The Basement—Again
[Chart courtesy of MarketWatch.com] Moving the markets Stocks took an early dump to start the week, with the Dow being down at one point by 500 points, but a mid-day slow and steady rebound assisted the major indexes to slip back above the unchanged line by a moderate margin. I can’t tell if the Plunge Protection Team (PPT) was at …
An Early Dump Followed By A Mid-Day Pump
[Chart courtesy of MarketWatch.com] Moving the markets Global markets in general collapsed early on with the Dow at one point being down over 700 points, and that only after only 1.5 hours’ worth of trading. Contributing to the sour mood were news of the arrest of the chief financial officer of Chinese Telecom equipment maker Huawei. Canadian officials arrested the …