[Chart courtesy of MarketWatch.com] After a sluggish start, the major indexes found some bullish sentiment despite anxiety about the upcoming earnings report from top AI chip producer Nvidia. Nvidia’s numbers are due out on Wednesday, and as the bellwether in the tech and AI arena, its financial health will be closely examined to determine if the current rotation away from …
Dow Hits Record High Amid Mixed Market Sentiment
[Chart courtesy of MarketWatch.com] Equities drifted throughout the session following a strong week where the S&P 500 gained 1.5%. While the S&P 500 and Nasdaq ended in the red, the Dow managed to close at a record high. Fed Chair Powell’s dovish stance on interest rates fueled traders’ enthusiasm, raising hopes that the long-awaited rate cut might finally materialize at …
ETFs On The Cutline – Updated Through 08/23/2024
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 23, 2024
ETF Tracker StatSheet You can view the latest version here. WALL STREET CELEBRATES POWELL’S AMBIGUOUS RATE CUT SIGNAL [Chart courtesy of MarketWatch.com] The major indexes surged higher following Fed Chair Powell’s commentary, which hinted at upcoming interest rate cuts. Although Powell was vague about the specifics, his statement that “the time has come for policy to adjust” resonated strongly, …
Weekly StatSheet For The ETF Tracker Newsletter – Updated Through 08/22/2024
ETF Data updated through Thursday, August 22, 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. …
Equities Retreat, Dollar Rebounds: Market Awaits Powell’s Insights
[Chart courtesy of MarketWatch.com] As we approach the conclusion of the Jackson Hole symposium, the major indexes have been experiencing volatility ahead of Fed Chair Powell’s anticipated commentary. Historically, Powell’s speeches at Jackson Hole have often boosted equities, but when they haven’t, sharp declines have followed. Currently, the S&P 500 is within 1.25% of its all-time intraday high set in …