Bouncing Into Election Day

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[Chart courtesy of MarketWatch.com] Moving the markets The markets shrugged off a supply warning from Apple and extended Friday’s bounce into a week that could present unexpected surprises. The obvious one is tomorrow’s mid-term elections, the outcome of which could very well affect the direction of future spending as well as create a political gridlock. Any kind of stalemate is …

Fed Signals More Rate Hikes On Deck—Markets Tank

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[Chart courtesy of MarketWatch.com] Moving the markets Despite the Fed doing the expected, namely hiking rates another 75bps and hinting at a policy change in the future, eliciting bullish momentum at first, things went the opposite way after Powell suggested that “the ultimate level of interest rates will be higher than previously expected.” The overall tone of the FOMC statement …

Bracing For The Fed

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[Chart courtesy of MarketWatch.com] Moving the markets After an early bounce, the major indexes faded below their respective trend lines and spent the session aimlessly meandering in anticipation of the Fed’s decision on interest rates tomorrow. As I posted before, a hike of 75bps is pretty much a lock, but the much-anticipated question as to what they will do in …

October Recoups A Chunk Of September’s Losses

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[Chart courtesy of MarketWatch.com] Moving the markets During the month of September, the S&P 500 tanked and lost -9.3% with the index meandering sideways for the first 12 days of October. Suddenly, a slow climb out of that deep hole gathered momentum with all major indexes staging a remarkable bear market bounce that stopped just short of generating a new …

ETF Tracker Newsletter For October 28, 2022

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ETF Tracker StatSheet           You can view the latest version here. WHEN BAD NEWS IS GOOD NEWS—AGAIN [Chart courtesy of MarketWatch.com] Moving the markets Looking at the tech wreck this week—during which heavyweights like Facebook and Amazon imploded, and the GDP allegedly grew by 2.6% in the 3rd quarter, while economic news was horrific, as inflation expectations jumped, US Pending …

Big Tech Gets Whacked

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[Chart courtesy of MarketWatch.com] Moving the markets Despite an early 300-point jump in the Dow, the major indexes were not able to hang on to that euphoric start, as the reality set in that all is not well with Big Tech. Both, Alphabet and Microsoft shares got hammered, with the former missing earnings expectations on the top and bottom lines, …