[Chart courtesy of MarketWatch.com] Moving the Markets After an early slide, the major indexes managed to do a repeat pattern of what we’ve seen for the last year or so and that is to slowly crawl back to conquer the unchanged line. Today was no different, as worries about the complexity of the new tax code, concerns over deficits and …
S&P Defends Its 2,500 Level
[Chart courtesy of MarketWatch.com] Moving the Markets The major indexes zigzagged throughout the session but ended up on a sour note by trending towards the day’s lows. The S&P 500 managed to defend its 2,500 level successfully—so far. Not helping the bulls for the second day in a row was Apple (AAPL), which dropped another -1.72% causing the Nasdaq to …
Fed Plans To Scale Back Stimulus; US Dollar Spikes; Dow & S&P Set New Records
[Chart courtesy of MarketWatch.com] Moving the Markets I had to laugh this morning when some news reports called the Nasdaq as having “plunged” in view of Apples weakness (-1.68%). It turned out that the Nasdaq merely retreated a meager -0.3% which appears to be, in that ‘new normal’ world we’re living in, quite a noteworthy drop. Go figure… Of course, …
Bullish Mood Prevails
[Chart courtesy of MarketWatch.com] Moving the Markets Despite sudden market weakness developing late in the session, with technology and biotech being spooked the most, the major indexes recovered a good chunk of their early gains and ended in the green with the Dow notching its 40th record close of the year. Helping matters were reduced tensions between N. Korea and …
Weak Economic Data Keeps Markets In Check
[Chart courtesy of MarketWatch.com] Moving the Markets While the Dow managed to close in the green for the 3rd straight session in a row, the broader market sagged a little based on weak retail shares that had the sector (XRT) giving back -0.72%. A couple of other numbers did absolutely nothing to instill confidence in an already declining economy. Consumer …
Extending The Rally
[Chart courtesy of MarketWatch.com] Moving the Markets After yesterday’s massive rebound, the major indexes continued with their bullish theme supported by Treasury Secretary Mnuchin’s words that he’s hopeful a tax overhaul can be accomplished by the end of the year. He also hinted that they’re considering backdating any reform to the beginning of 2017. That’s all it took, and stocks …