The markets had nothing to go on other than hope and wishful thinking that Greece will be saved and remain in the European Union, while speculation grew that China may throw an assist to Europe’s indebted nations. However, skepticism set in towards the end of the trading day, as cooler heads prevailed by concluding that today may have been just …
European Debt Worries On Hold—Equity ETFs Continue Modest Rally
European debt worries and bank problems certainly have not gone away; they were merely put on hold today with no negatives hitting the newswires. As a result, the domestic markets seesawed but managed to close higher for the second day in a row. However, the health of a variety of European banks is still of great concern and may come …
Bouncing Off The Support Level—Major Market ETFs Stage A Rebound
You never know if a white knight can suddenly appear with enough powers to pull the major indexes out of a deep hole. That was the case today, as the S&P 500 was bouncing around its major support level of 1,140, which was briefly violated, when news broke that Italy is talking to Chinese Investors about buying some of its …
Fed Chief Disappoints – Major Market ETFs Slide
Yesterday’s rally ran into resistance, as an early bounce turned into an afternoon fade disappointing those that had hoped for more follow through to the upside. Fed Chief Bernanke’s speech sent the markets lower, as he offered no tangible details as to the assist he could provide in boosting the economy. Wall Street’s high expectations simply turned into disappointment. Unless, …
A Relief Rally For Equity ETFs
After 3 days of relentless selling, which caused the S&P 500 to lose -4.43%, it was time for a relief rally or possibly a dead cat bounce. The index managed to make up some of the recent losses by gaining +2.86% on the day as the chart, courtesy of MarketWatch.com, shows. There were several supporting actors lending an assist as …
Major Market ETFs Head Lower, But Damage Is Limited
At the open, the markets looked downright ugly as the Dow was briefly down some 300 points before a slow rebound cut into the early losses. Financial stability in Europe, or the lack thereof, along with a fallout from Friday’s poor unemployment numbers combined to support the bearish case for the moment. Yesterday’s pounding of the European markets caused by …