[Chart courtesy of MarketWatch.com] Moving the markets One look at the S&P 500 chart above shows the lack of direction and the aimless meandering that underscored today’s session with 2 of the 3 major indexes closing in the red by a small margin. If I am repeating myself, it’s only because the same issues are plaguing the markets, rising coronavirus …
Volatility Pops—Market Drops
[Chart courtesy of MarketWatch.com] Moving the markets The futures markets already indicated equity weakness, which was confirmed after the opening bell rang. Stocks opened in the red and dove for most of the session until some buyers stepped in and reduced the early losses. The storyline was the same as we heard last week, except traders have now come accept …
ETF Tracker Newsletter For October 23, 2020
ETF Tracker StatSheet You can view the latest version here. AIMLESS MEANDERING [Chart courtesy of MarketWatch.com] Moving the markets While the chart above shows a nice rebound for the S&P 500 off its mid-day lows, keep in mind that today’s activity happened within a very narrow trading range of less than 1%. Traders were not willing to commit one …
Hope For Stimulus Reigns Supreme
[Chart courtesy of MarketWatch.com] Moving the markets The never-ending stimulus saga continued to govern the headlines, as artful rhetoric by skilled politicians kept the hope alive that a compromise will still be a possibility—soon. Posted CNBC: Pelosi said Thursday a deal on new coronavirus aid was “just about there.” She also said: “If we were not making progress, I wouldn’t …
Chopping And Flopping
[Chart courtesy of MarketWatch.com] Moving the markets A roller coaster ride best describes today’s session with the markets homing in on every stimulus word uttered, then jumping on hopeful comments while slipping on disappointing news. Nothing else seemed to matter. Goldman Sachs economist Alec Phillips noted that “the biggest issues remain unresolved and a deal doesn’t seem particularly close.” “With …
Markets Dump On Vanishing Stimulus Hopes
[Chart courtesy of MarketWatch.com] Moving the markets An early 100-point bounce in the Dow turned into a late trounce again with the major indexes accelerating to the downside late in the session. With only 1 day left until a key deadline for an aid package set by Pelosi becomes effective, traders took the lack progress as a bad omen and …