[Chart courtesy of MarketWatch.com] Moving the markets After touching new all-time highs (Dow and S&P) shortly after the opening, the bullish euphoria vanished in a hurry and made room for the bears to do some chest pounding for a change with the Dow down over 700 points at its worst level. However, given the strong advances last month, this sell-off …
Lackluster Meandering
[Chart courtesy of MarketWatch.com] Moving the markets Again, the futures pointed to a positive beginning in the cash markets, and that’s exactly how it opened. While the major indexes spiked early on, they faded throughout the session but managed to close in the green, though by a only small margin. After the drubbing of the past couple of days, SmallCaps …
Wandering Lower
[Chart courtesy of MarketWatch.com] Moving the markets Despite the futures spiking into record territory, and the cash markets following suit at the opening, the major indexes ended up sliding lower, chopped around their respective trendlines, but fell short in their attempt to rebound into the green. Taking the starch out of the early dash was the continued battle over the …
The Trump Pump
[Chart courtesy of MarketWatch.com] Moving the markets Global stocks and US equity futures leaped as a result of Trump signing the $2.3 trillion spending package, while euphoria reigned supreme in the UK, as a last-minute trade deal with the EU was signed. Here’s CNBC: Trump signed a $900 billion Covid-19 relief bill into law, averting a government shutdown and extending …
Fading Into The Close
[Chart courtesy of MarketWatch.com] Moving the markets The futures already whipsawed on Trump’s decision to return the stimulus bill to Congress, as it contained billions in unacceptable pork expenditures. The initial drop quickly reversed and, by the time the regular session opened, the major indexes were already in rally mode, except for the Nasdaq, which lagged all day. However, a …
Running Out Of Steam
[Chart courtesy of MarketWatch.com] Moving the markets For the 3rd day in a row, the S&P 500 meandered aimlessly and ended up in red territory again but by a modest amount. Even the arrival and passing of the long-awaited Covid stimulus deal could not generate any buying enthusiasm for the major indexes. However, the Nasdaq bucked the trend, but was …