[Chart courtesy of MarketWatch.com] Moving the markets A relief rally held its ground with the major indexes remaining steady above their respective unchanged lines, as strong bank earnings by Bank of America and Bank of Mellon provided the fuel to sustain the rebound. Of course, stocks have been in deeply oversold territory, and are hovering near year lows of the …
ETF Tracker Newsletter For October 14, 2022
ETF Tracker StatSheet You can view the latest version here. PUMPED, THEN DUMPED [Chart courtesy of MarketWatch.com] Moving the markets Yesterday’s market reversal, that saw Dow swing from a minus 500 points to a plus 800 points, marked the fifth largest in history. The worse than expected CPI report (+8.2% YoY), with the core number surging to 40-year highs, …
Stuck In Limbo
[Chart courtesy of MarketWatch.com] Moving the markets Today’s Producer Price Index (PPI) was a mixed bag and turned out to be a yawner for the stock market. While the PPI climbed 0.4% in September, which was twice the forecast of 0.2%, year over year, however, it rose 8.5%, which was an improvement from August’s 8.7% increase. The major indexes interpreted …
Another Dead-Cat-Bounce Bites The Dust
[Chart courtesy of MarketWatch.com] Moving the markets An early morning ramp-a-thon pushed equities into the green, with the Dow at one moment sporting a 400-point gain but, things turned sour quickly, and the major indexes dove into the close. Only the Dow managed to cling to its unchanged line, while the S&P and Nasdaq ended solidly in the red with …
Going…Going…Gone!
[Chart courtesy of MarketWatch.com] Moving the markets While the major indexes closed off their intra-day lows, they nevertheless scored another loss, as several rally attempts did not hold, and south we went. As I pointed out last week, the massive rebound, that propelled the Nasdaq some 6.5% higher on Monday and Tuesday turned out to be another head fake with …
ETF Tracker Newsletter For October 7, 2022
ETF Tracker StatSheet You can view the latest version here. EASY COME, EASY GO [Chart courtesy of MarketWatch.com] Moving the markets Right now, it sure looks like the bullish feel-good hope moves of Monday and Tuesday were nothing more than another dead cat bounce, with most gains having been surrendered as the bears battled back and took the upper …