[Chart courtesy of MarketWatch.com] Moving the markets For a while it looked like the opening bounce had some starch in it, but that hope dissipated in the hurry, when a mid-day dive gave the bears the upper hand and south went with the Dow being down -250 points at one time. A late afternoon levitation gave the bulls some hope …
Treading Water; Oil Gets Bashed
[Chart courtesy of MarketWatch.com] Moving the markets Despite several attempts to pull the major markets out of yesterday’s hole, the efforts failed with the Dow and S&P 500 sinking moderately while the Nasdaq ended the session unchanged. Not helping matters was the fact that oil prices tumbled -8.11% and ended up barely hanging on to the 55-handle after having now …
Surrendering Last Week’s Gains
[Chart courtesy of MarketWatch.com] Moving the markets Friday’s market weakness continued through today with the major indexes getting spanked and surrendering just about all last week’s gains, which makes Wednesday’s robust bounce suspicious in terms of resumption of the bullish trend. At least for right now, it appears to have been a giant head fake, just enough to generate a …
Fed Keeps Rates Unchanged; Markets Mixed
[Chart courtesy of MarketWatch.com] Moving the markets There was not much follow through from yesterday’s massive rally, but there was not much of a sell-off either, meaning that our new domestic “Buy” took effect today. We got our feet wet with some conservative exposure to “broadly diversified domestic ETFs,” while acknowledging that at any time momentum could turn around and …
The Morning After: Political Gridlock Is Good For Equities; New Domestic “Buy” Signal Is Generated
[Chart courtesy of MarketWatch.com] Moving the markets Right out of the starting gates, bullish momentum ruled, and the major indexes staged an impressive come-back rally. With the results of the elections confirming a political gridlock, you may be wondering why that would be a good thing for stocks. The Daily Bell provided this answer: Republicans expanded their majority in the …
Waiting For The Election Outcome
[Chart courtesy of MarketWatch.com] Moving the markets With most of the mid-term election results being on deck later tonight, it came as no surprise that the markets meandered, but with a bullish bias, as all 3 major indexes closed in the green with last minute buying helping the bullish cause, although on ultra-low volume (60% below average). Polls and forecasts …