[Chart courtesy of MarketWatch.com] Moving the markets Despite an early pop in the major indexes, the struggle of finding a bottom, off which to launch a bullish rebound from, eluded traders and algos alike. Absent of a major Ramp-A-Thon tomorrow, the last day of the quarter, Wall Street will be left swallowing the bitter pill that the worst half of …
Consumer Confidence Tanks—And So Do The Markets
[Chart courtesy of MarketWatch.com] Moving the markets Despite an early bounce, the major indexes hit the skids due to disappointing economic data. The reversal started with the release of the Consumer Confidence Index, which crashed to a reading of 98.7 in June from a prior 103.2 vs. an expected 100.0. Additionally, as ZeroHedge reported, the actions of Americans, dumping their …
Sloppy And Choppy
[Chart courtesy of MarketWatch.com] Moving the markets Traders continued their struggle of determining whether Friday’s comeback rally was truly indicative of stocks having found a bottom or just experienced another dead-cat-bounce. While I believe the latter is the case, we could see more upward momentum through the end of this quarter. Today, markets were just aimlessly chopping around and digesting …
ETF Tracker Newsletter For June 24, 2022
ETF Tracker StatSheet You can view the latest version here. BREAKING A 3-WEEK SKID [Chart courtesy of MarketWatch.com] Moving the markets After the recent thrashing, the major indexes finally managed to close the first week out of the last four with a win. Gains were broad, as the markets seemed to have found some stability and strung together a …
Stuck In No Man’s Land
[Chart courtesy of MarketWatch.com] Moving the markets Bullish attempts to keep yesterday’s comeback alive ended up failing, as the major indexes surrendered early gains and ended up the hugging their respective unchanged lines with not much to show for. Initially, stocks had blasted higher, despite weakness in the futures markets. For a while, it looked like we were facing another …
Another Bear Market Rally?
[Chart courtesy of MarketWatch.com] Moving the markets It comes as no surprise that the major indexes would eventually manage a bounce back from the brutal losses not only YTD but also from last week, which saw the S&P 500 surrender -5.8%—its worst 5-day stretch since 2020. A more aggressive stance on interest rate hikes by the Fed, and increasing odds …