[Chart courtesy of MarketWatch.com] Moving the markets As I pointed our yesterday, sudden up moves can be ephemeral in nature, and even more so when they are based on hope and hot air. This is what we saw today when the nothing-burger, AKA the Trump-Xi non-deal, came back with a vengeance and collapsed the major indexes by over 3%. Trump …
Finding Positive Momentum
[Chart courtesy of MarketWatch.com] Moving the markets For a change, the major market indexes managed to move higher in sync with the Nasdaq (QQQ) successfully bouncing off its 4-month trend line to close solidly in the green. News reports that the latest trade talks with China had resolved nothing pulled the indexes off their mid-day highs but kept them above …
Easing EU Trade Tensions Propel Equities; International “Buy” generated
[Chart courtesy of MarketWatch.com] Moving the markets Trade tensions were on the front burner again, but this time not with China but with the EU, as President Trump and EU President Juncker met and hailed a new phase in trade relations. The White House meeting ended with the following positive joint statement: “We agree today, first of all, to work …
Shrugging Off A Massive Tech Reversal
[Chart courtesy of MarketWatch.com] Moving the markets Something odd is going on in the markets besides the Chinese Yuan having crashed more in the last 30 days than at anytime in history not counting the 2008 Great Financial Crisis. Yesterday, it was the sudden 10-year bond yield spike to its highest level in 5 months. Today, it was a huge …
Keeping Upward Momentum Alive
[Chart courtesy of MarketWatch.com] Moving the markets The major indexes followed through from yesterday’s advance to close higher with the Dow logging its fifth positive session, while the Nasdaq lagged slightly and fell just short of crossing its unchanged line to the upside. The markets were still influenced by the Fed’s upbeat description of a domestic economy, which has expanded …
Continuing The Bullish Theme
[Chart courtesy of MarketWatch.com] Moving the markets The bullish mood continued with the Dow and the S&P 500 making solid gains, while the Nasdaq lagged and barely stayed above the unchanged line. The Dow had its best win streak in the past 30 days, while the S&P 500 was homing in on a new 5-month high. However, when looking at …