[Chart courtesy of MarketWatch.com] Moving the Markets Geopolitical uncertainties, such as the London terrorist attack and the upcoming testimony of former FMI chief Comey, combined to pull the starch out of last week’s upward momentum. Not helping matters was the continuing weakness in the US Macro data index, which has slipped now to its lowest level since February 2016 when …
Closing Out May On A Weak Note
[Chart courtesy of MarketWatch.com] Moving the Markets For the second day in a row, the major indexes limped slightly lower but ended up closing the out the month on the plus side. The Nasdaq took the lead with +2.5%, followed by the S&P 500 with +1.2%, while the Dow desperately hung on to the unchanged line but conquering it by …
Going Nowhere Fast
[Chart courtesy of MarketWatch.com] Moving the Markets The markets seemed to have a hangover after the 3-day weekend with the major averages remaining stuck below the unchanged line giving back some of last week’s gains. Macro data continues to head south as consumer confidence dropped to its weakest since February confirming that hope has faded as evidenced by plans to …
S&P 500 And Nasdaq Eke Out New Record Highs
[Chart courtesy of MarketWatch.com] Moving the Markets After the break through the glass ceiling yesterday, the major indexes managed to maintain upward momentum to score gains for the 6th consecutive day recovering all losses sustained during last week’s dump. While the Dow lagged, the S&P and Nasdaq shot up into record territory. Stocks still felt good the morning after digesting …
Last Hour Surge Pushes Indexes To Record Highs
[Chart courtesy of MarketWatch.com] Moving the Markets I’ve been mentioning the glass ceiling during recent posts, and today was the day when the S&P 500 managed to break out of a 4-day sideways pattern to close the session at a new record but only by a tiny margin while setting a 2017 volume low. Most of the day was spent …
Bouncing Against A Glass Ceiling
[Chart courtesy of MarketWatch.com] Moving the Markets The major indexes managed to stay above the unchanged line throughout the session (on low volume) and kept bouncing against the invisible glass ceiling also known as new all-time highs. There was not enough momentum to break through, and it appears that we’ll be having a fairly quiet week as far as politics …