[Chart courtesy of MarketWatch.com] Moving the markets The major indexes whipsawed throughout the session, however, all action happened above the unchanged line with the tech sector having its best session in over a month. Helping the positive mood were reports indicating an easing of trade tensions with especially Germany’s car sector enjoying a nice rebound after one newspaper published an …
Going Backwards—AKA Pump And Dump
[Chart courtesy of MarketWatch.com] Moving the markets Yesterday’s late recovery rally continued this morning, but suddenly died, as momentum reversed, which sent the major indexes diving into the red. Weakness in tech and financials eclipsed positive moves in the telecom, energy and real estate sectors. Contributing to the tech sectors downward swing was Micron Technology, which appears to have been …
Escalating Trade Tensions—Markets Recover
[Chart courtesy of MarketWatch.com] Moving the markets It was weak start to the 3rd quarter with the major indexes diving right after the opening bell, with the old stand-by, namely escalating trade tension, being the culprit and weighing on sentiment. Despite this negative influence, a mid-day recovery, on the back of a rally in technology, turned things around and early …
Financials And Tech Show Strength; International “Sell” Signal Confirmed
[Chart courtesy of MarketWatch.com] Moving the markets Another slow start followed by a bounce back, which had legs for a change, gave the major indexes a victory session, although a modest one. Whether this was just another dead-cat bounce remains to be seen, but bullish momentum was not overwhelming thereby confirming our Domestic “Sell” signal affecting “broadly diversified international equity …
From Feast To Famine: A Dead-Cat Bounce Dies
[Chart courtesy of MarketWatch.com] Moving the markets Follow through momentum from yesterday’s modest rebound ran into a brick wall mid-day, the bears took over and down we went with the major indexes diving decisively into the red and closing at the lowest level of June. It sure looked like an early dead-cat bounce died suddenly and selling accelerated, as sentiment …
Trade Uncertainty Remains; Indexes Rebound Modestly
[Chart courtesy of MarketWatch.com] Moving the markets After Monday’s brutal sell-off, the major indexes managed to halt the bearish momentum by staging a modest rebound that peaked mid-day and then faded into the close. However, we ended the day with modest gains as cautious sentiment over trade policy remained on traders’ minds. To me, the session had the feel of …