[Chart courtesy of MarketWatch.com] 1. Moving the Markets Sure, why not? Manufacturing is in a clear recession and the services economy is about to follow, but the short squeeze continued late in the day with the computer trading algos pushing the indexes another notch higher towards the 2,000 level on the S&P 500. To my way of thinking, the markets …
Second Day Of March Modest At Most
[Chart courtesy of MarketWatch.com] 1. Moving the Markets After posting its best start to March ever on signs the U.S. economy is perking up, U.S. stocks managed modest gains and the Nasdaq exited correction territory as investors digested the latest upward move and Super Tuesday results. Tuesday’s rally, which was powered in part by incoming economic data that allegedly suggests that recession fears …
When Bad News Is Good News And Good News Is Great News
[Chart courtesy of MarketWatch.com] 1. Moving the Markets As I was scanning the early news on MarketWatch, I cam across the headline “Wall Street gains as weak data spurs stimulus,” which was later removed and replaced with “Wall Street surges as data points to economic recovery” confirming that according to MSM bad news is good news and good news can …
Dow Is Only Index To Stay Above Water In February
[Chart courtesy of MarketWatch.com] 1. Moving the Markets U.S. stocks ended February on a sour note as oil prices rose and “the” meeting of G20 finance officials ended without pledges for joint action to stimulate sagging global economic growth. As I mentioned on Friday, chances are great that useless jawboning without concrete results or resolutions is as good as it gets. The …
Markets Keep Rebound Alive Despite Major Sell-Off In China
[Chart courtesy of MarketWatch.com] 1. Moving the Markets U.S. stocks shrugged off a selloff in Shanghai and were higher as Wall Street seeks to build on yesterday’s V-shape come-back that wiped out big losses and allowed stocks to finish the day up. There was a huge sell-off of Chinese stocks overnight plunging 6%. It was the worst day of losses in …
Stocks Fight Back To Close In The Green
[Chart courtesy of MarketWatch.com] 1. Moving the Markets Stocks pulled out of an early deep slide to close higher as the common “follow the leader” trend that has dominated Wall Street for most of 2016 came back in play: The direction of oil prices determines the direction of stocks. The “disappointing” sentiment that oil production caps would not come into play …