ETF Tracker StatSheet You can view the latest version here. ENDING THE WEEK WITH A BOOM [Chart courtesy of MarketWatch.com] Moving the markets Yesterday, I had to laugh out loud when one’s man’s opinion caused bullish juices to suddenly explode, after the markets had been chopping around aimlessly for the most of the session. Bloomberg’s headline featuring the Atlanta …
Sliding Into March
[Chart courtesy of MarketWatch.com] Moving the markets Higher interest rates have been pummeling equities all last year, as most bounces ended up reversing and creating lower lows. While the Dow managed to climb temporarily into the green today, the S&P and Nasdaq struggled below their respective unchanged lines with bullish sentiment being suspiciously absent. The culprit was surging bond yields …
Ending The Month With A Whimper
[Chart courtesy of MarketWatch.com] Moving the markets Despite a good midday effort, at which time bullish sentiment exploded to the upside, the bounce turned out to be nothing more than a head fake, with two out of the three major indexes slipping back into the red—not only for the day but for the month as well. Again, economic data points …
Cautiously Advancing
[Chart courtesy of MarketWatch.com] Moving the markets Last week’s thrashing of the markets was the worst so far in 2023. So, it comes as no surprise that traders and algos engaged in some bottom fishing with another big week in retail earnings hopefully proving the support to give these efforts some staying power. While the early thrust petered out, at …
ETF Tracker Newsletter For February 24, 2023
ETF Tracker StatSheet You can view the latest version here. SURGING BOND YIELDS SPANK EQUITIES [Chart courtesy of MarketWatch.com] Moving the markets After yesterday’s modest bounce of hope, traders and algos alike were hit with another reality check, namely the fact that the Fed’s preferred measurement of inflation, the PCE (Personal Consumption Expenditures Price Index) rose 0.6% in January …
Popping And Dropping
[Chart courtesy of MarketWatch.com] Moving the markets The release of the most recent Fed minutes was on traders’ minds, while they looked for clues as to what the next move by the Central Bank would be in terms of inflationary measures. An early bounce of hope reversed, despite a short squeeze, and the bears scored another win with the S&P …