[Chart courtesy of MarketWatch.com] 1. Moving the Markets The early move to the upside turned into a dud when the usual culprits, namely Greece and the domestic economy, combined forces that gave the bear the upper hand for this session. Also weighing on market sentiment was the miserable performance of the Dow Transportation Index, which is now down some 10% …
A Slippery Back Diamond Slope
[Chart courtesy of MarketWatch.com] 1. Moving the Markets After two days of gains, it was time for a reversal. To no surprise, the culprit turned out to be another failed set of negotiations between Greece and its EU creditors. It was the Greek headlines that moved the markets to the downside, as disappointment over progress prevailed. Another meeting was scheduled …
Edging Up On Low Volume
[Chart courtesy of MarketWatch.com] 1. Moving the Markets Gains are better then losses; even if they’re small! That was the case today as the major indexes hugged the unchanged line but managed to close on the plus side. The Nasdaq eked out another record as the waiting game in the Greek saga continues. More clarification is needed to see if …
Greek Optimism Pushes Indexes Higher
[Chart courtesy of MarketWatch.com] 1. Moving the Markets The bulls were in charge race right after the opening, and the major indexes shifted into rally mode closing on the plus side with the Nasdaq making a new record high. Despite the pullback during mid-day, we closed solidly above the unchanged line. The driving forces, as has been the case lately, …
Shifting Into Overdrive
[Chart courtesy of MarketWatch.com] 1. Moving the Markets Domestic stocks shifted into overdrive today rallying sharply and sending the Nasdaq and Russell 2000 to record highs, while all other major indexes scored nicely. Supporting today’s euphoria was the fact that the Fed did not only not produce any earthshaking news yesterday but also set a dovish tone in its announcement …
Fed Signals Gradual Tightening—Indexes Inch Higher
[Chart courtesy of MarketWatch.com] 1. Moving the Markets It was a choppy session as the indexes rallied at first, pulled back mid-day, rallied again and sold off into the close but managed to stay above the unchanged line. As expected, the Fed left interest rates unchanged while the commentary pretty much remained the same as in “we’ll watch economic data” …