[Chart courtesy of MarketWatch.com] 1. Moving the Markets It it hadn’t been for a last hour turn-around, possibly a dead cat bounce, the major indexes may have headed for a steep dive. As it turned out, the worst was avoided for the time being, but this type of market action underscores what I have been saying since the middle of …
Aimless Meandering
[Chart courtesy of MarketWatch.com] 1. Moving the Markets Volatility in oil and currency markets was on again as the S&P 500 dropped towards the 1,900 level, rebounded to make new highs for the day, went sideways but managed to close slightly in the green. Crude oil was the predominant driver pushing the major indexes above and below their respective unchanged …
Oil Prices Tumble And Markets Get Slammed
[Chart courtesy of MarketWatch.com] 1. Moving the Markets The lack of correlation between oil prices and the major indexes I pointed out yesterday reversed with a vengeance as oil dropped another 5.79% on top of yesterday’s loss of 6.78% causing the markets to head south all day with no recovery in sight. Crude oil stumbling below $30/barrel accelerated a downdraft …
Clawing Back
[Chart courtesy of MarketWatch.com] 1. Moving the Markets It did not look pretty at the opening with the major indexes taking a dive after Friday’s come back rally. Interesting to me was the break in correlation with oil prices, as oil got hammered at the tune of -6.78%, yet equities managed to dig themselves out of a hole and closed …
ETF/No Load Fund Tracker Newsletter For January 29, 2016
ETF/No Load Fund Tracker StatSheet ————————————————————- THE LINK TO OUR CURRENT ETF/MUTUAL FUND STATSHEET IS: https://theetfbully.com/2016/01/weekly-statsheet-for-the-etfno-load-fund-tracker-newsletter-updated-through-01282016/ ———————————————————— Market Commentary A BITTER SWEET END TO A GRIM JANUARY [Chart courtesy of MarketWatch.com] 1. Moving the Markets The Dow, posting its worst January since 2009, ended up nearly 400 points to cap a turbulent month on an upbeat note after a surprise …
Oil Pushes Markets Down A Slippery Slope
[Chart courtesy of MarketWatch.com] 1. Moving the Markets Oil continues to be the dominant market mover in the early days of 2016. Stocks ended lower Monday as oil prices dropped more than 7% and fell back to around $30 a barrel. The drop in oil prices of late is mostly due to global oversupply. It appears that none of the …