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[Chart courtesy of MarketWatch.com] Moving the markets Despite yesterday’s bullish euphoria, reality set in today and informed those, who had not gotten the message yet, that we are indeed in bear market territory, in which hopeful bounces tend to die quickly. Today’s action would be better described as a “puke fest,” with every asset class, except gold, being spanked with …

[Chart courtesy of MarketWatch.com] Moving the markets Finally, an early advance, despite some mid-day pullbacks, continued its bullish trend, and the major indexes closed solidly in the green. Of course, the question remains whether upward momentum can be sustained in view of mounting concerns that the economy will tip into a recession later this year. Contributing to this rebound may …

[Chart courtesy of MarketWatch.com] Moving the markets Friday’s rebound of hope found some support mid-session today, but suddenly lost steam and the major indexes headed back into the red except for the Dow, which eked out a small gain. It was another frustrating day for the bulls, with especially the Nasdaq getting hit hard again. Trading was choppy as concerns …

[Chart courtesy of MarketWatch.com] Moving the markets The pattern, that early ramps get wiped out during the session, has been occurring with such regularity, that we could conclude that they are merely dead-cat-bounces, i.e., hopeful leaps with no connection to reality. Today was no exception. The chart above clearly demonstrates that occurrence and here again, the major indexes got spanked, …

[Chart courtesy of MarketWatch.com] Moving the markets An early +500-point Dow relief rally died on the vine, as the index suddenly reversed course and dove into the red by -150 points before chopping and flopping around the unchanged line into the close. This marked the Dow’s 4th consecutive decline. The S&P 500 and Nasdaq followed a similar pattern but managed …