ETF Tracker StatSheet You can view the latest version here. PONDERING A STRONG JOBS REPORT [Chart courtesy of MarketWatch.com] Moving the markets After much anticipation, today’s jobs report came in stronger than expected (528k vs. 258k), which caused an early sell-off, but the major indexes managed to claw back towards their respective unchanged lines, even though uncertainty reigned. However, …
Moving Closer To A New “Buy” Signal
[Chart courtesy of MarketWatch.com] Moving the markets Traders and computer algos marched in sync today by ignoring the fact that the Fed might not be pivoting to lower rates for some time to come, which several Fed heads had made abundantly clear yesterday. Today, it was St. Louis Fed President Bullard confirming again that “he doesn’t think the US is …
Fed Mouth Pieces Jawbone Markets Lower
[Chart courtesy of MarketWatch.com] Moving the markets I have been commenting almost daily on last week’s rally, which was entirely based on wishful thinking that the Fed will have to pivot back to lowering rates. Due to the US having slipped into a recession, traders, who have been frontrunning the market, expected that this event will have to happen sooner …
Stumbling Into August
[Chart courtesy of MarketWatch.com] Moving the markets Last week’s relentless hope that Fed head Powell will be forced to pivot due to recessionary forces (lower rates), which triggered a nice rebound, became questionable as to its timing and may not happen as quickly as the markets had expected. That could affect the duration of the current bullish run. The major …
ETF Tracker Newsletter For July 29, 2022
ETF Tracker StatSheet You can view the latest version here. MAKING UP JUNE’S LOSSES [Chart courtesy of MarketWatch.com] Moving the markets Despite the Fed’s rate hike of 75 bps on Wednesday and yesterday’s Q2 negative GDP print of -0.9%, the markets perceived all of it as a positive, never mind the fact that two consecutive negative GDP readings are …
Bad News Is Good News: Fed’s Rate Hike Pleases Markets
[Chart courtesy of MarketWatch.com] Moving the markets Only thing mattered today, and that was the announcement by the Fed on interest rates. Traders and algos alike engaged in the usual front running, and today they were not disappointed, as the Fed did not surprise with an unexpected hike of 1% but satisfied expectations of 0.75 increase. Late in the session, …