[Chart courtesy of MarketWatch.com] Last week’s selloff spread globally and accelerated this morning as traders grappled with fears of a U.S. recession. The downturn began in Japan, where the Nikkei plummeted over 12%, marking its worst day since the 1987 Black Monday crash. Contributing to the turmoil was Japan’s recent decision to hike interest rates, which disrupted the highly leveraged …
ETFs On The Cutline – Updated Through 08/02/2024
Do you want to know which ETFs are hot and which ones are not? Then you need my High-Volume ETF Cutline report. It tells you how close or far each of the 311 ETFs I follow is from its long-term trend line (39-week SMA). These are the ETFs that trade more than $5 million a day, so they are not …
ETF Tracker Newsletter For August 2, 2024
ETF Tracker StatSheet You can view the latest version here. STOCK MARKET FACES TURBULENCE: IS A RECESSION ON THE HORIZON? [Chart courtesy of MarketWatch.com] The markets suffered a significant downturn this morning, driven by a weaker-than-expected July jobs report that dampened any bullish sentiment. Nonfarm payroll jobs increased by only 114,000 last month, a sharp decline from the 179,000 …
Weekly StatSheet For The ETF Tracker Newsletter – Updated Through 08/01/2024
ETF Data updated through Thursday, August 1, 2024 How to use this StatSheet: These are the main indicators that tell you when to buy or sell Domestic and International ETFs (section 1 and 2). They do that by comparing their position to their long-term M/A (Moving Average). If they cross above, and stay there, it’s a green light to buy. …
Weak Economic Data Sparks Market Downturn, Nasdaq Drops 2.3%
[Chart courtesy of MarketWatch.com] The markets faced a significant downturn today, as weak economic data erased an early rally. Major indexes dipped into the red, with the Nasdaq dropping 2.3%, effectively wiping out most of yesterday’s gains. Initial jobless claims surged to 249,000 for the week ending July 27, surpassing the estimated 235,000. Additionally, the ISM manufacturing index, which reflects …
Tech Titans Lead Nasdaq Rally Amid Earnings Surprises
[Chart courtesy of MarketWatch.com] The tech sector saw a significant boost, led by Advanced Micro Devices (AMD), which lifted the Nasdaq to an impressive gain after surpassing second-quarter expectations. Nvidia followed suit, achieving its largest single-day gain ever at 12%. Meanwhile, Microsoft experienced a decline due to underwhelming cloud business performance but managed to recover by the close of trading. …