[Chart courtesy of MarketWatch.com] Moving the markets There was no rebound in sight anywhere, as the major indexes opened below their respective unchanged lines, headed south and bounced around the day’s lows without ever threatening the downward momentum. The S&P 500 has now lost 9 out of the past 11 trading days and closed today right at its 200-day M/A. …
Dumping And Pumping In The Face Of Weak Data
[Chart courtesy of MarketWatch.com] Moving the markets A sharp early dive pushed the Dow down some 250 points (thanks in part due to IBMs poor earnings report) shortly after the opening with the other major indexes seeing red numbers as well. A slow but steady recovery pulled the indexes back above their respective unchanged lines, but the gains did not …
Corrective Bounce Off The Trend Lines
[Chart courtesy of MarketWatch.com] Moving the markets Forget yesterday’s ugly close, during which the major indexes got stuck below their respective 200-day M/As indicating more pain to come on the downside. Today was a new day, where the bulls ruled for the entire session, as an upbeat earnings mood and some decent economic data (US job openings, industrial production) wiped …
Hovering In No-Man’s Land
[Chart courtesy of MarketWatch.com] Moving the markets Traders were a nervous bunch today after the S&P 500 bounced off the lows last Friday and came to rest right on top of its 200-day M/A, which for many represents the dividing line between bullish and bearish territory. Our Domestic Trend Tracking Index (TTI) already dipped below its own trend line last …
ETF Tracker Newsletter For October 12, 2018
ETF Tracker StatSheet https://theetfbully.com/2018/10/weekly-statsheet-for-the-etf-tracker-newsletter-updated-through-10-11-2018/ ENDING THE WEEK WITH PUMP, DUMP AND PUMP [Chart courtesy of MarketWatch.com] Moving the markets Today turned into another wild ride with the major indexes rebounding, then dropping, with the Dow turning negative after an early 400-point gain, after which buyers stepped in to pull equities out of the doldrums. In the end, we saw one …
Battling For A Comeback—And Failing—Domestic TTI Confirms “Sell” Signal
[Chart courtesy of MarketWatch.com] Moving the markets A meager attempt of an early bounce was rebuffed, and the major indexes continued to head south towards bear market territory. I pondered yesterday whether the sell-off was overdone and might produce a quick rebound, or whether we were heading much lower and ending this bullish cycle. The latter transpired as bouts of …