[Chart courtesy of MarketWatch.com] 1. Moving the Markets Equities maintained their newly found upward momentum and rallied for the third day in a row by putting the Brexit sell-off in the rear view mirror and making up almost all losses. In the end, the S&P 500 closed out June just about unchanged. The assists of the day came from the …
Brushing off ‘The Brexit’
[Chart courtesy of MarketWatch.com] 1. Moving the Markets It is becoming more apparent that Brexit was perhaps just another short-term shock on the market last Friday, at least for the time being. All three major indexes have since posted solid gains, including today. The Dow has risen 554 points since Monday, which is its best back-to-back point climb since August …
Back In Black Tuesday
[Chart courtesy of MarketWatch.com] 1. Moving the Markets Markets on Tuesday flashed their first signs of stabilization as the Dow shot up more than 200 points following a sullied performance last week after the U.K. exit. I am sure equity indexes were oversold during the past couple of days, but it remains to be seen whether this is just hopeful …
Brexit Hits Home—Trend Tracking Indexes Drop Into Bear Market Territory
[Chart courtesy of MarketWatch.com] 1. Moving the Markets Following the Brexit vote late last week, markets did not boomerang back into positive territory today as some had hoped. In fact, all 3 major indexes here in the U.S. dropped at least 1.5%. What I can tell from today’s trading session, is that the path forward for stocks will continue to …
Front Running the Brexit Vote
[Chart courtesy of MarketWatch.com] 1. Moving the Markets U.S. and European stocks rallied big time as investors appear to be front running or betting that voters in the U.K. will choose to remain in the European Union. Ahead of the vote, a new Ipsos Mori poll completed Wednesday night showed the “remain” supporters with a narrow lead — 52% to 48%. But the polling firm’s …
Major Indexes Pull Back Ahead Of Brexit Vote
[Chart courtesy of MarketWatch.com] 1. Moving the Markets An early rally, fueled by better than expected May home resales, fizzled out in the afternoon as Wall Street focused on the vagaries and uncertainties of tomorrow’s referendum on whether Great Britain will exit the European Union. A poll published today shows pretty much a statistical tie with “Leave” supporters at 45%, …