[Chart courtesy of MarketWatch.com] Moving the markets Continued hope for a trade resolution with China provided the assist the markets needed to score another winning session, it’s first 3-day win streak in six weeks. Also hope that Apples’ afterhours earnings report would be a blow-out event contributed to the upward thrust. The overall positive tone from the US and China …
Ending Red October On A High Note
[Chart courtesy of MarketWatch.com] Moving the markets It truly was an ugly October, despite the hopeful rebound during the past couple of days, which left many traders wondering “are we there yet?” meaning “is the bottom in?” While the answer is elusive, some analysts point to tomorrow as being a make-or-break kind of day. Why? As I mentioned before, the …
Finally: A Rebound With Staying Power
[Chart courtesy of MarketWatch.com] Moving the markets Despite today turning into another roller-coaster ride, with the S&P 500 crossing its unchanged line seven times, the bulls prevailed in the end by pushing the major indexes higher during a last hour attack. For sure, with the brutal selling spree of the past few weeks on traders’ minds, it was about time …
Vicious Bears: Major Indexes Bounce, Fade And Dive
[Chart courtesy of MarketWatch.com] Moving the markets A nice early morning bounce seemed to have a soothing effect on the bulls, with the Dow up almost 400 points. Unfortunately, that did not last, as a mid-day fade took the major indexes back to the unchanged line when, suddenly, downward momentum accelerated pushing the Dow momentarily to -500 points, before a …
Crawling Out Of A Deep Hole
[Chart courtesy of MarketWatch.com] Moving the markets Having been involved in the investment methodology of trend tracking for the past 30 years, I have seen my share of violent market swings in both directions. I was reminded of that when, after yesterday’s 600-point drubbing of the Dow, today’s rebound, or was it a dead-cat-bounce, recovered about 400 points. These kinds …
Chaos: Accelerating To The Downside And Diving Into The Close
[Chart courtesy of MarketWatch.com] Moving the markets By the chart above, you would not know that we had a positive opening thanks to Boeing’s encouraging earnings report which, at the end of this session, turned into a tiny unimportant speck in the rear-view mirror. After a mid-day bounce, bearish momentum gathered strength and south we went, at first slowly and …