[Chart courtesy of MarketWatch.com] Moving the markets Stocks resumed their Ramp-A-Thon into tomorrow’s CPI report, as traders were betting that Thursday’s inflation data will present validation of a decelerating trend. Confidence reigned supreme that the Fed’s rate hikes had their planned impact and that a policy reversal might be on deck, as “the Fed will cave” story gained momentum. While …
Finding Support
[Chart courtesy of MarketWatch.com] Moving the markets After much bobbing and weaving, the major indexes found some footing and closed in the green led by the Nasdaq with a 1% gain. Upcoming economic data points and corporate earnings later this week kept the rally in check. All eyes were on Fed head Powell’s speech this morning and, as ZeroHedge pointed …
ETF Tracker Newsletter For January 6, 2023
ETF Tracker StatSheet You can view the latest version here. WHEN BAD NEWS IS GOOD NEWS—AGAIN [Chart courtesy of MarketWatch.com] Moving the markets And so, the rollercoaster week has come to an end with the markets seeming to have broken out to the upside—at least for the time being. The much-awaited December jobs report was interpreted as showing signs …
Swinging The Other Way
[Chart courtesy of MarketWatch.com] Moving the markets Yesterday’s rally of hope hit a brick wall this morning, as the markets appeared unable to string a couple of winning sessions together, thereby still being stuck trading in a broad trading range. Good news was bad news again when ADP’s private payroll report showed that 235k jobs were added in December, which …
An Early Rally Hits The Skids
[Chart courtesy of MarketWatch.com] Moving the markets An early rally seemed to hit a brick wall, reversed, and headed south, but the major indexes bounced off their respective trend lines and closed the session in the green. The culprit for this reversal was the release of the Fed’s latest meeting minutes (December), which showed that the bank will continue with …
Indecision Rules
[Chart courtesy of MarketWatch.com] Moving the markets The first trading day of 2023 turned into a bit of tug-of-war between bulls and bears, as an early bounce gave way to slow and steady selling, but a last hour rebound kept the damage to a minimum. The same stand-by problems like rising rates and high inflation continued to concern traders and …