ETF Tracker StatSheet You can view the latest version here. RECESSION FEARS REIGN SUPREME [Chart courtesy of MarketWatch.com] Moving the markets After yesterday’s drubbing, and today’s roller coaster ride, the latter of which occurred due to a massive quadruple options expiration session, it comes as no surprise that the markets took another dive. The Dow was down as much …
The Morning After: Recession Angst Grips Markets
[Chart courtesy of MarketWatch.com] Moving the markets Even though the Fed hiked rates as expected, a “morning after” hangover set in, as today’s poor retail sales confirmed current recessionary tendencies. Sales dropped -0.6% in November, which was twice the expectations of a -0.3% decline. US Industrial Production did not help matters, because it fell 0.2% MoM (0% expected) and dropped …
Fed Hike Creates A Choppy Ride
[Chart courtesy of MarketWatch.com] Moving the markets Fed head Powell came out and did the expected, namely hike rates by 0.5% to maintain the efforts of crushing inflation. However, the Fed also signaled that it will not only hike rates higher than traders had anticipated but also hold those rates higher for longer, a hawkish theme that I have pounced …
Thriving And Diving
[Chart courtesy of MarketWatch.com] Moving the markets After the release of the highly anticipated CPI report, which came in “cooler” than expected, the major indexes stormed ahead with the Dow scoring a quick 400-point gain. The S&P 500 recouped its 200-day M/A but gave back that “victory” later in the session. The CPI increased just +0.1% from the prior month …
Front Running The CPI Report
[Chart courtesy of MarketWatch.com] Moving the markets While moderate bullish sentiment dominated market direction throughout the day, traders decided to shift upward momentum into overdrive during the last hour of the session, thereby pushing equities sharply higher. The major indexes sported solid gains in the end, indicating that tomorrow’s CPI number is expected to come in lower than had been …
ETF Tracker Newsletter For December 9, 2022
ETF Tracker StatSheet You can view the latest version here. ENDING THE WEEK TO THE DOWNSIDE [Chart courtesy of MarketWatch.com] Moving the markets Yesterday’s rebound now appears to have been an outlier, as the major indexes, following an early bounce, lost their mojo and dropped into the close ending a week that turned out to be the worst since …