[Chart courtesy of MarketWatch.com] Moving the Markets Yesterday, I talked about how the Dow was on its worst losing streak since 1978 if it would hit one more down day. That dubious record was prevented as, right out of the gate this morning, the computer algos went into overdrive by slamming the VIX (volatility index) on 4 different occasions to …
Dollar And Financials Head South; Equities Recover
[Chart courtesy of MarketWatch.com] Moving the Markets Equities looked to be on a slippery slope this morning with all indexes starting the day being underwater by about -1%. For a change, dip buyers stepped in and off to the races we went recouping almost all losses at the close. However, the Dow now has notched its 8th down day in …
Hope Rally Fails As Health-Care Bill Vote Is Delayed
[Chart courtesy of MarketWatch.com] Moving the Markets One look at the above chart shows the type of roller coaster ride the major indexes went through resulting from continued uncertainty about the outcome of the health care vote. In the end, hope of a passage got crushed as the vote got postponed on doubts that it can pass handing Trump a …
Upcoming Healthcare Vote Keeps Markets In Check
[Chart courtesy of MarketWatch.com] Moving the Markets Since market participants did not show much commitment one way or the other, the major indexes ended up hovering slightly above and below the unchanged line but managed to close slightly above it except for the Dow, which gave back a tiny -0.03%. Considering yesterday’s sharp selloff, today’s lack of follow through to …
Banks & Stocks Bleed While Gold Shines
[Chart courtesy of MarketWatch.com] Moving the Markets An early rally attempt driven by Apple reaching new all-time highs was rebuffed in a hurry, as worries surfaced that Trump may not be able to deliver on his promised tax cuts as quickly as had been assumed, an assumption that has been the reckless driver of the market in recent months. Right …
Equities Lower; Precious Metals Higher
[Chart courtesy of MarketWatch.com] Moving the Markets An early rebound attempt ran out of steam as the Fed paraded a couple of their mouthpieces, who managed to spew some words of hawkishness to undermine any positive market momentum. First it was Fed’s Harker, who caused some worries with announcing that we “can’t rule out more than 3 hikes this year,” …