[Chart courtesy of MarketWatch.com] Moving the markets Friday’s month ending bounce-back is now in the rear view mirror as the floodgates opened this morning, and the major indexes headed straight south just about uninterruptedly until they found a support point this afternoon, which softened the damage for the day. Nevertheless, chart damage was done with the S&P dropping below it’s …
A Broad Rally Ends A Poor Month
[Chart courtesy of MarketWatch.com] Moving the markets A solid and broad rally right after the opening bell pulled the major indexes out of the doldrums with the bulls finally managing to reduce some of the losses sustained not only in March but YTD as well. Today’s leaders were the dogs of the month, namely tech and energy. We’ll have to …
Snap-Back Rally Propels Equities Higher
[Chart courtesy of MarketWatch.com] Moving the markets The much feared wave of selling that dominated last week came to a sudden end when the major indexes opened higher, pulled back slightly and then rocketed into the close thereby recording their largest one-day percentage gains since the middle of 2015. The bulls finally showed signs of life supported by reports that …
Trade War Threats Hammer Markets; ‘Buy’ Signals Remain Intact
[Chart courtesy of MarketWatch.com] Moving the markets I was thinking this morning that something had changed in the markets over the past week or so. All of a sudden, stocks seem to react to day-to-day headline events and no longer consider ‘any’ news as good news for the bullish crowd, which is what we saw throughout 2017. Supporting a similar …
Indexes Slip On Hawkish Fed
[Chart courtesy of MarketWatch.com] Moving the markets Despite the major indexes gyrating wildly above their respective unchanged lines, ahead of the Fed, in the end, the elevated levels did not hold and we slipped slightly into the red. The big winners after the interest rate hike were Gold and Crude Oil. There wasn’t really anything in the Fed announcement that …
Major Indexes Rebound As Tech Sell-Off Eases
[Chart courtesy of MarketWatch.com] Moving the markets Despite continued weakness in Facebook (FB -2.56%), the tech sector as a whole managed to recover from yesterday’s sell-off with QQQ rebounding a modest +0.55%. Supporting action came from the loser YTD, namely the energy sector (XLE), which gained +0.56%. Facebook’s troubles with privacy violations continue to make headlines but, as I suggested …