ETF Tracker Newsletter For August 7, 2020

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ETF Tracker StatSheet           You can view the latest version here. DOLLAR POPS AND GOLD DROPS [Chart courtesy of MarketWatch.com] Moving the markets The declining US dollar finally showed some signs of life and rebounded causing gold, after its torrid run, to give back some of its outsized gains. It was a choppy and sloppy day in the markets with …

Chopping Around The Unchanged Line, Then Leaping Into The Close

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[Chart courtesy of MarketWatch.com] Moving the markets The major indexes meandered around their respective unchanged lines for most of the morning, when news that the State Department had lifted its global travel advisory from 4 months ago hit the wires. That was like poring gasoline on a fire, and the indexes rocketed higher for the remainder of the session and …

Nasdaq Sets Record—Gold Hits New All-Time High

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[Chart courtesy of MarketWatch.com] Moving the markets The Dow raced ahead and ended just short of a 400-point gain, but gold again outperformed with another solid +1.53% showing. The S&P closed within 1.7% of its all-time high. The mood was upbeat, not because of facts, but merely hope of further stimulus from the government to assist the out-of-work Americans. However, …

Equities Recover, But Gold Excels

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[Chart courtesy of MarketWatch.com] Moving the markets This morning, we saw another weak opening with the major indexes zigzagging and being pulled into the red before another magic last hour ramp pushed equities to a green close.   Mid-day, stocks obliterated some of their gains, as House Speaker Pelosi announced that she “doesn’t think there will be a deal this …

Rallying into August

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[Chart courtesy of MarketWatch.com] Moving the markets Friday’s last hour rebound served as a foundation for further advances, as the major indexes did not skip a beat, opened to the upside, never looked back, and ended up scoring another green close, which greatly benefitted our current positions. Helping matters was the impact of another strong short squeeze. As we’ve seen …

ETF Tracker Newsletter For July 31, 2020

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ETF Tracker StatSheet           You can view the latest version here. CLOSING THE WEEK WITH A BANG [Chart courtesy of MarketWatch.com] Moving the markets After Big Tech delivered blow-out earnings after the close yesterday, the futures market had the Nasdaq up by some 2% stoking hopes that the regular cash market would follow that bullish premise. It was not meant …