[Chart courtesy of MarketWatch.com] Moving the markets Aimless meandering best describes today’s session during which rally attempts were rebuffed with the major indexes dropping, bouncing off their respective unchanged lines and ending up moderately in the green. Ahead of the Fed’s decision on interest rates tomorrow, the market environment was one of nervousness with the tug-of-war continuing between those traders …
Dropping And Popping
[Chart courtesy of MarketWatch.com] Moving the markets Last week’s downtrend continued during the first trading session of May, as the Dow stumbled some 400 points early on, but a last hour rebound pulled the major indexes out of the doldrums and back into the green. The S&P 500 fell to new lows for the year, which is viewed as a …
ETF Tracker Newsletter For April 29, 2022
ETF Tracker StatSheet You can view the latest version here. RED APRIL [Chart courtesy of MarketWatch.com] Moving the markets Despite the shocking negative first quarter GDP reading of -1.4% (annually), the markets managed to string together a MegaLiftathon on Thursday, but today’s reality check pulled the indexes back down below where they started yesterday. So much for buying the …
A Dead-Cat Bounce Loses Its Bounce—Twice
[Chart courtesy of MarketWatch.com] Moving the markets Despite dip buyers stepping in this morning, to take advantage of lower prices caused by yesterday’s drubbing, the effort peaked mid-day, after which the selling resumed with the major indexes ending up only a tad above their respective unchanged lines. The Nasdaq has now dropped some 12% in April, which is its worst …
The Puke-A-Thon Continues
[Chart courtesy of MarketWatch.com] Moving the markets The Nasdaq sustained its recent weakness and plunged some 4% in part due to increasing anxiety ahead of the quarterly earnings reports from the big players like Microsoft and Alphabet (Google) due out this afternoon. The recent Netflix blow-up is still on every trader’s mind. However, today’s weakness was also assisted by the …
Fighting Back…And Succeeding
[Chart courtesy of MarketWatch.com] Moving the markets Another early sell off pulled the Dow down by some 400 points, as a one-two punch hit the US markets. Global fears about an economic slowdown loomed large, leading to a slump in Chinese stocks, which pulled energy, commodities, and precious metals off their recent highs—along with all US equities. As a result, …