[Chart courtesy of MarketWatch.com] Moving the Markets It was a wild ride for the major indexes as they vacillated above and below the unchanged line depending on the words of the moment during President-elect Trump’s first formal news conference since the election. Case in point was the punishing effect on Biotech/Pharma stocks when Trump opined that that industry “was getting …
Slowing Momentum
[Chart courtesy of MarketWatch.com] Moving the Markets At least for today, New Year momentum slowed as the major indexes predominantly hovered below the unchanged line and closed at their lows for the session. The exception was the Nasdaq, which managed to eke out a gain of +0.19%. It was a tale of opposing market forces as technology strength was offset …
ETF Tracker Newsletter For January 6, 2017
ETF Tracker StatSheet https://theetfbully.com/2017/01/weekly-statsheet-for-the-etf-tracker-newsletter-updated-through-01052017/ Market Commentary Dow 19,963.80 [Chart courtesy of MarketWatch.com] Moving the Markets The assault at the Dow 20k marker continued but fell short once again. Given that we are in a manipulated market environment, I am pretty sure that we will conquer that milestone prior to the change in administrations on January 20th. After that, it’s anybody’s …
Aimless Meandering
[Chart courtesy of MarketWatch.com] Moving the Markets After a good start in the New Year, softness set in with the major indexes meandering aimlessly although the Nasdaq managed to eke out a small gain. Weighing on the broad market were sharp drops in Kohl’s and Macy’s after yesterday’s announcement that the holiday season was not only poor, but that also …
ETF Tracker Newsletter For December 30, 2016
ETF Tracker StatSheet https://theetfbully.com/2016/12/weekly-statsheet-for-the-etf-tracker-newsletter-updated-through-12292016/ Market Commentary Year End Resistance [Chart courtesy of MarketWatch.com] Moving the Markets For sure, I thought there would have been a last minute attempt at reaching the much talked about 20k Dow level during this last trading week of 2016, but it did not happen. Actually, the post election momentum reversed with the S&P 500 declining …
Treading Water
[Chart courtesy of MarketWatch.com] Moving the Markets Quiet holiday trading took over with the major indexes vacillating slightly above and below their respective trend line without clear direction and again on low volume. The exception was gold, which finished a 5-day winning streak by adding a solid +1.59% for the day. The dollar gave back some of its recent gains …