[Chart courtesy of MarketWatch.com] Moving the markets Despite desperate attempts to cling to the unchanged line, bearish forces proved too overwhelming today and pulled the major indexes into the red. This was especially disappointing for the Nasdaq, which had sported a solid rally early on but lost upward momentum and ended up diving into the close. Despite better-than-expected earnings from …
Dropping And Popping
[Chart courtesy of MarketWatch.com] Moving the markets Last week was a roller coaster ride with the S&P 500 dropping some 4% in the first three trading days but making up most of it during the last two and ending down only 1.4%. The Nasdaq fared the worst and continued this trend this morning by leading the other two major indexes …
Surging Off The Bottom
[Chart courtesy of MarketWatch.com] Moving the markets After three days of relentless selling, the major indexes seemed to find a bottom today, as dip buyers stepped in and gave a long overdue assist. The Dow and S&P 500 took the lead, but the much beaten-up Nasdaq managed a decent showing, along with Small Caps, which had taken a severe beating …
CPI Reading Demolishes Markets
[Chart courtesy of MarketWatch.com] Moving the markets US core consumer price inflation reared its ugly head as a 0.2% expected rise in the CPI index turned out to be wishful thinking with the real number showing a surge of 0.8% MoM, which represents an explosion of 4.2% YoY. As ZeroHedge pointed out, this is the biggest YoY jump since September …
Tech Reverses, But Broad Market Drops
[Chart courtesy of MarketWatch.com] Moving the markets We saw another wild day in the markets with the major indexes tanking, as the Nasdaq was still negatively influenced by rising valuations and ever climbing inflation fears. It was a strange day, because the tech sector rebounded in the afternoon, in part due to Amazon Buyback rumors, which traders took as a …
An Early Rally Bites The Dust
[Chart courtesy of MarketWatch.com] Moving the markets An early rally, at least for the Dow, petered out with all 3 major indexes diving into the close. The S&P 500 managed to hug its unchanged line for most of the day but succumbed to weakness in the end with the Nasdaq being the guilty party dragging down the indexes. Technology continued …