[Chart courtesy of MarketWatch.com] Moving the Markets After skidding two days in a row, the major indexes bounced back and erased their recent losses with the S&P ending the session at the same level where we closed on Monday. Giving an assist was the widely expected passage of the tax bill in the House. That in itself is progress but …
Lack Of Tax-Overhaul Progress Whacks Sentiment
[Chart courtesy of MarketWatch.com] Moving the Markets While the major indexes suffered their biggest one-day percentage drops since September, as MSM reports, we have to remember that, when looking at the entire 2017 YTD performance, today’s 0.5% pullback is hardly newsworthy. Nevertheless, a weak energy sector with XLE correcting -1.16% did not help matters. And, as I reported just about …
No Market Report
Due to my continued travels, there will be no market report today. Regular posting will resume tomorrow afternoon.
One Man’s Opinion: Argentina Issues 100-year Bond. What Could Possibly Go Wrong?
By Simon Black Apparently while I was in the air yesterday flying between Asia and Europe, the financial system proved once again that it believes in magic beans. The latest absurdity is that the government of Argentina sold $2.75 billion worth of bonds yesterday afternoon. It’s not strange or unusual for a government to sell bonds; it happens multiple times …
Nasdaq Slips But Dow And S&P 500 Edge Up
Due to the shortened pre-holiday session, there will be no market report today but only an update to our Trend Tracking Indexes (TTIs): The TTI’s were mixed with the Domestic one slipping a tad while the International one gained solidly. Here’s how we closed 7/3/2017: Domestic TTI: +2.98% (last close +3.01%)—Buy signal effective 4/4/2016 International TTI: +7.19% (last close +6.89%)—Buy …
Afternoon Rally Starts June With A Bang
[Chart courtesy of MarketWatch.com] Moving the Markets Private sector hiring as reported by ADP, which added a seasonally adjusted and bigger–than-expected 253k rise in employment for May, set the tone for the market, as the major indexes climbed steadily above the unchanged line and into record territory. As has been the case in the recent past, negative news like US …