[Chart courtesy of MarketWatch.com] US stocks surged Monday to log their biggest single-session gain in months on positive housing data and increasing investor confidence that a budget deal would be reached in Washington. Mind you that a deal is pure hope at this time, and I have my doubts that total cooperation without any battle will actually be feasible. Wall …
One Man’s Opinion: Are Worries About The Fiscal Cliff Over-hyped?
The US economy grew by 2.3 percent in the second quarter, while the third quarter growth rate has been about three percent, which means average annual growth will be about 2.6 percent in 2012, says James Paulsen, chief investment strategist at Wells Capital Management. There are so many more parts which are working than they were a year ago. …
Last Hour Rally Saves The Day For Equities; Domestic TTI Barely Breaks The Trend Line To The Downside
[Chart courtesy of MarketWatch.com] Domestic stocks extended losses for the fourth straight session Thursday as investors weighed negative data on employment and manufacturing activity, and political uncertainties overseas. A Labor Department report revealed 439,000 Americans filed for unemployment benefits last week, a sharp increase of 78,000 that analysts attributed to Hurricane Sandy while a separate monthly manufacturing survey by the …
Equities Get Bruised Again; Middle East Weighs; Europe Sinks
[Chart courtesy of MarketWatch.com] Equities finished sharply lower Wednesday to extend losses into the third straight session this week, as major averages fell to multi-month lows over concerns about the upcoming budget debate. Markets turned jittery on news of conflict between Israel and Palestine, wiping out an early tech-driven rally. Stocks were on the decline after Egypt recalled its ambassador …
Equity Markets Get Clobbered; Trend Tracking Indexes (TTIs) Remain On The Bullish Side—But Barely
With the markets getting clobbered today, I thought for sure that both TTIs would retreat below their respective long-term trend lines and make the dive into bear market territory. Well, it was close, but it did not happen yet as the Domestic TTI stayed above the line by a scant +0.01%, while the international TTI remained a little more bullish …
Major Indexes Fall As Budget Debate Weighs; Europe Rises
[Chart courtesy of MarketWatch.com] US major indexes finished lower Tuesday after rallying early on as optimism over home improvement retailer Home Depot’s strong results were offset by fiscal cliff worries. Investors chose to stick to the sidelines, unsure if lawmakers could cut a deal that would stop the onset of sharp spending cuts and tax hikes in January. Giving up …