[Chart courtesy of MarketWatch.com] Moving the markets After a flat session yesterday, gravity set in and pulled the major indexes into a deep hole, with the Dow being down over 500 points early on. A slow recovery helped lessen the pain, but in the end, losses exceeded 1% with the S&P 500 faring the worst. Right after the opening bell, …
ETF Tracker Newsletter For April 28, 2023
ETF Tracker StatSheet You can view the latest version here. PUMPING INTO THE WEEKEND [Chart courtesy of MarketWatch.com] Moving the markets If it hadn’t been for the Ramp-A-Thon over the last two trading days of the month, the S&P 500 would have ended in the red during April. The Fed’s favorite Personal Consumption Expenditure price index (PCE) rose 0.3% …
Violating The Trendline
[Chart courtesy of MarketWatch.com] Moving the markets Despite positive earnings from Microsoft and Google after the close yesterday, the troubles of First Republic Bank (FRC) continued today and overshadowed all news with the stock sliding another 30% on top of yesterday’s 50% dump. As I have repeatedly pointed out, there is never just one cockroach, a theory which appears to …
Breaking Out—To The Downside
[Chart courtesy of MarketWatch.com] Moving the markets I was pondering yesterday if, in the absence of a bullish driver, the markets might take the path of least resistance, which would be down. That was the case today, as the major indexes opened in the red, with the bears taking over and manhandling any bullish sentiment with utter ease, thereby assuring …
Stuck In A Holding Pattern
[Chart courtesy of MarketWatch.com] Moving the markets In a repeat of last week’s activity, the major indexes spent most of the session vacillating near their respective unchanged lines but managed to slightly close in the green, with the Nasdaq being the exception. Earnings season, economic data, upcoming Central Bank actions, and geopolitical tensions kept traders and algos on edge causing …
ETF Tracker Newsletter For April 21, 2023
ETF Tracker StatSheet You can view the latest version here. TREADING WATER [Chart courtesy of MarketWatch.com] Moving the markets Today’s activity pretty much resembled how the markets fared during this entire week. It was a snooze fest with neither buyers nor sellers being motivated to act, with the result that the S&P 500 lost 4 points, or 0.1%. Yesterday, …