ETF Tracker Newsletter For October 16, 2020

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ETF Tracker StatSheet           You can view the latest version here. DIVING INTO THE WEEKEND [Chart courtesy of MarketWatch.com] Moving the markets An early rally hit the skids with the major indexes diving into the close with only the Dow showing a small gain of +0.39%. The Nasdaq fared the worst by giving back -0.36%, but for the week, equities …

Tanking And Cranking

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[Chart courtesy of MarketWatch.com] Moving the markets The markets took a steep dive right after the opening, with the Dow down some 300 points, after which a slow but choppy ascent pulled major indexes out of the doldrums, but they fell short of reclaiming their respective unchanged lines. The culprits for the early weakness were the same as yesterday, namely …

Dollar Dumps And Gold Pumps

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[Chart courtesy of MarketWatch.com] Moving the markets Even though the markets started the session on the plus side, early enthusiasm waned, and the major indexes closed in the red for the second day in a row. The losses were modest, and a late day rebound attempt failed to push equities back above the unchanged line. Weakness appeared to accelerate after …

Shattering A 4-Day Winning Streak

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[Chart courtesy of MarketWatch.com] Moving the markets Equities headed south right after the opening bell with the Dow ending its 4-day win streak. Bringing the recent rally to a halt was news that several pharmaceutical companies were facing challenges with their Covid-19 vaccines due to side effects causing 2 companies to pause its trials. Earnings season got started with banking …

Journeying Towards New Highs

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[Chart courtesy of MarketWatch.com] Moving the markets The futures already indicated this day to be one for the bulls, as renewed stimulus hopes, the upcoming earnings season and just general market optimism formed the basis for another day of levitation with especially the Nasdaq receiving a nice boost of +2.6% thanks to a massive melt-up squeeze. It was the tech …