[Chart courtesy of MarketWatch.com] Moving the markets Overnight weakness, followed by an early dump, with the Dow dropping some 400 points, was reversed as bullish sentiment prevailed causing traders and algos to pull the major indexes out of a hole and back to within striking distance of their respective unchanged lines. After two days of strong gains, the widely followed …
Perception Or Reality?
[Chart courtesy of MarketWatch.com] Moving the markets For the second day in a row, the markets rebounded sharply based on the idea that the Fed is due to pivot and implement a more dovish stance with its monetary policy. Never mind that all this is merely perception and not reality at all. But to the frontrunning traders and algos none …
Climbing Out Of A Deep Hole
[Chart courtesy of MarketWatch.com] Moving the markets After last month’s thrashing, during which the S&P 500 lost -9.3%, it comes as no surprise that a rebound from a very oversold condition materialized, as the markets welcomed October with a bullish bounce. Following the recent debacle in the UK, when the BoE reversed its tough talk of hiking rates to fight …
ETF Tracker Newsletter For September 30, 2022
ETF Tracker StatSheet You can view the latest version here. A BRUTAL MONTH ENDS WITH ANOTHER DIVE [Chart courtesy of MarketWatch.com] Moving the markets The jury is now out that this has been the worst September for stocks since 2008. That’s a big ouch for those still believing the farce of buying and holding forever by not recognizing when …
Exuberance Returns As Bank Of England Intervenes
[Chart courtesy of MarketWatch.com] Moving the markets After yesterday’s breakdown in the UK Gilt (bond) market, during which the 30-year gilt rose above 5%, a level not seen since 2002, according to ZeroHedge, the Bank of England capitulated today and reversed course, AKA they pivoted from hawkish to dovish. It recognized “significant dysfunction” in the bond market and “material risk” …
Homing In On The June Lows
[Chart courtesy of MarketWatch.com] Moving the markets Equities took in on the chin again with the major indexes notching another loss, as interest rates rose among unrest in a variety of global currencies. The British Pound (BP) had at one point fallen 4% against the Dollar but came off its lows on rumors of the Bank of England having to …