[Chart courtesy of MarketWatch.com] Moving the markets The S&P 500 was bored on Monday as investors waited for the Federal Reserve to make up its mind about the interest rates. The S&P 500 and the Nasdaq were both losers for the second week in a row, while the Dow managed to squeeze out a tiny win. Oil prices soared to …
CPI Report Sends Markets On A Roller-Coaster Ride
[Chart courtesy of MarketWatch.com] Moving the markets The markets were like a yo-yo today, as traders freaked out over the latest inflation report. The CPI, or consumer price index, showed that prices of stuff we buy went up more than expected in August. The core CPI, which excludes food and energy (because who needs those, right?), also went up more …
Energy Sector Shines, Rest Of Market Dims As Inflation Looms
[Chart courtesy of MarketWatch.com] Moving the markets Oil prices soared to their highest level in seven years, making everyone wonder if they should invest in electric cars or bicycles. The rising cost of energy spooked the stock market, which fell for the second day in a row. The major indexes dipped below their 50-day moving averages, a sign of weakness …
ETF Tracker Newsletter For June 23, 2023
ETF Tracker StatSheet You can view the latest version here. BEARS MAUL BULLS AS INFLATION AND RECESSION FEARS MOUNT [Chart courtesy of MarketWatch.com] Moving the markets The bulls took a break this week as the bears came out to play. The main indexes snapped their winning streak as inflation fears, Fed tightening, and recession worries spooked the traders. The …
Beware Of Narrow Breadth: Why This Rally Might Fail
[Chart courtesy of MarketWatch.com] Moving the markets The S&P 500 is close to its highest level in nine months, but don’t get too excited. This rally is driven by a few big stocks, while most of the market is lagging. That’s a sign of weakness, not strength, according to analyst Lance Roberts. He explains: Breadth is important. A rally on …
Apple’s “Appulus” Fails To Impress As Market Turns Sour
[Chart courtesy of MarketWatch.com] Moving the markets The market rally fizzled out on Monday as the major indexes gave up their early gains and closed nearly flat or lower. The Dow was the biggest loser, while the S&P 500 and Nasdaq barely stayed above water. According to Bespoke Investment Group, the S&P 500 is now more overbought than any time …