[Chart courtesy of MarketWatch.com] Moving the markets An early market slump turned into a full-blown dump, as it appeared that the major indexes were struck by a dose of reality and, for a change, the headline scanning computer algos interpreted bad news as bad news. Even though we saw a last 30-minute pump, it only reduced the amount of damage …
A Rally Morphs Into A Swan Dive
[Chart courtesy of MarketWatch.com] Moving the markets An early rally ran into trouble, reversed, accelerated, and got slammed down with the Dow dropping some 450 points, or -1.9%, with the other two major indexes scoring slightly worse. The initial bounce was a result of positive interpretations of the partial reopening of the economy, despite many facts pointing to a disappointing …
Going Nowhere
[Chart courtesy of MarketWatch.com] Moving the markets An early drop was followed by a mid-day pop, then momentum faded, and the Dow dove back into the red. The S&P 500 ended just about unchanged, but the Nasdaq ruled and closed in the green despite a total collapse in earnings. It appears that early optimism about the step-by-step re-opening of the …
ETF Tracker Newsletter For May 8, 2020
ETF Tracker StatSheet You can view the latest version here. MARKETS RALLY ON HORRIFIC ECONOMIC DATA [Chart courtesy of MarketWatch.com] Moving the markets See if this makes sense to you. Today’s data released by the U.S. Labor Department (BLS) showed that we now have the worst unemployment rate since the Great Depression with 14.7%, while 20.5 million are out …
Markets Defy Economic Reality
[Chart courtesy of MarketWatch.com] Moving the markets An early 400-point gain in the Dow got cut in half, but at least all three major indexes managed a green close. Jobless claims jumped by “only” 3.2 million in early May, which traders viewed as a slowing in job losses with some States now beginning to reopen their economies. The reality is …
Dumping Into The Close
[Chart courtesy of MarketWatch.com] Moving the markets It was a tug-of-war throughout the session, as an early rally died on the vine with two of the three major indexes diving into the red during the last 30 minutes. The exception was the Nasdaq, which managed to stay above the unchanged line but had to give up more than 50% of …
