[Chart courtesy of MarketWatch.com] 1. Moving the Markets Blame it one the Chinese. With the Shanghai index tanking some 8.5% in today, there was simply no other way to go but down. European stocks took the clue, and the German DAX dropped 2.6%. Following the leaders, the bears quickly took the upper hand in the U.S. markets and down we …
Stocks Slide On Disappointing Earnings
[Chart courtesy of MarketWatch.com] 1. Moving the Markets Equities hit he skids for the 3rd day in a row as, following Apple’s disappointing report card yesterday, 3M and Caterpillar joined the crowd, and the slide in stocks continued killing any hope of a rebound. Commodities offered little help as they seem to be stuck in a bearish trend of their …
Major Indexes Close Lower—Apple’s Slide Is The Culprit
[Chart courtesy of MarketWatch.com] 1. Moving the Markets Tech stocks continued to be a drag on the major indexes after results from Miscrosoft and Apple disappointed. As is always the case, Apple certainly did not do poorly; it’s just that expectations are so overblown than anything close to realty seems to cause a pullback. In the bigger picture, the question …
Violent Greek Protests Pull Down Equities
[Chart courtesy of MarketWatch.com] 1. Moving the Markets Finally, the 4-day winning streak came to an end, but the losses were minor as a late day turnaround caused by violent Greek protests ahead of their parliamentary votes regarding the third bailout package pulled the rug out from initial upward momentum. While we bounced successfully off the session’s lows, it remains …
Hope Of A Solution In Greece Fuels Rebound
[Chart courtesy of MarketWatch.com] 1. Moving the Markets Things looked very dicey for the S&P 500, and the markets in general, as the indexes dropped sharply after the opening. The S&P touched the 2,044 level, which was a break below its widely followed 200-day moving average. A close around the lows of the day may have generated a “Sell” signal …
Greece And Economic Data Pull Indexes Down
[Chart courtesy of MarketWatch.com] 1. Moving the Markets The early move to the upside turned into a dud when the usual culprits, namely Greece and the domestic economy, combined forces that gave the bear the upper hand for this session. Also weighing on market sentiment was the miserable performance of the Dow Transportation Index, which is now down some 10% …