[Chart courtesy of MarketWatch.com] Moving the Markets I finished yesterday’s piece by stating that the current VIX level is simply unsustainable. As if by magic, the VIX suddenly exploded to the upside today spiking from 11 to 17, which is the most in 8 months and interrupting the longest period of calm for the S&P 500 since 1969. Consequently, the …
Dollar Slumps And Gold Jumps
[Chart courtesy of MarketWatch.com] Moving the Markets It was a mixed news bag as the housing recovery showed signs of “un-recovering” with Housing Starts dropping 2.6% in April after getting hammered in March with a 6.6% reduction. Not to be outdone, Building Permits joined in by tumbling 2.5% MoM, way below expectations. On the retail side, the apocalypse continued as …
Weak Global Economic Data = Markets Racing To New Highs
[Chart courtesy of MarketWatch.com] Moving the Markets The S&P 500 finally managed to break through its 2,400 glass ceiling to new all-time highs while the Nasdaq joined the fun by closing in record territory as well. Supporting actors were Johnson & Johnson, along with Cisco, both of which rallied more than 2%. Today’s gain came in the face of the …
Equities Skid But Dip Buyers Save The Day; Is China The Canary In The Coalmine?
[Chart courtesy of MarketWatch.com] Moving the Markets Right out of the gate, the major indexes skidded with the S&P 500 dropping -0.75% before the dip buying crowd (or was it the Fed?) stepped in to save the day. While we still closed below the unchanged line, the early losses were reduced. Nevertheless, after the almost comatose state of the markets …
Still Riding The Range
[Chart courtesy of MarketWatch.com] Moving the Markets While the Nasdaq managed to ease higher by just enough of a margin to register a new record close for the 4th straight day, the Dow slipped a tad but the S&P managed to bounce against its 2,400 glass ceiling without breaking it. The Dow suffered a bit from a stock slide in …
Indexes Flat But Nasdaq Notches A New Record
[Chart courtesy of MarketWatch.com] Moving the Markets It was another non-eventful day in the markets with the Dow and S&P inching lower, however, the Nasdaq managed to eked out a new high. While earnings reports have been holding up, the spanking being dished out almost daily in the oil market along with opinions from the various Fed mouthpieces kept the …