[Chart courtesy of MarketWatch.com] Moving the markets An early pop was shadowed by a mid-day drop, which was then followed by one more pop in the indexes with the Dow scoring another record high as economic reopening optimism prevailed. The early plunge was the result of negative news from several European countries about blood blot concerns by vaccine developer AstraZeneca. …
ETF Tracker Newsletter For March 12, 2021
ETF Tracker StatSheet You can view the latest version here. RISING BOND YIELDS = SLIDING TECH SECTOR [Chart courtesy of MarketWatch.com] Moving the markets Again, it was the Nasdaq futures, falling as much as 2%, that predicted a sloppy opening of the regular session. That’s exactly what happened because bond yields spiked again, thereby taking the starch out of …
Tech Rules For The Day
[Chart courtesy of MarketWatch.com] Moving the markets The futures markets already pointed to higher prices for the Nasdaq, which had fallen as much as 12% last week before attempting a comeback. Today, it was the leader among the major indexes sporting +2.52%, while the Dow and S&P 500 lagged with gains of +0.58% and +1.04% respectively but both hit new …
Dow Hits Record—Nasdaq Shows Signs Of Fatigue
[Chart courtesy of MarketWatch.com] Moving the markets It was a tale of two markets again with the Dow ending in record territory, while the Nasdaq, after strong early gains, fell apart and closed slightly in the red. The S&P 500 closed +0.60%, but the larger gains occurred in the value sector, namely RPV with +2.25% and IJS with +2.33%; both …
Tech Bounces Back
[Chart courtesy of MarketWatch.com] Moving the markets The tech sector was “saved” last night during futures trading when China’s Plunge Protection team tried to intervene and shore up their markets. While it helped to erase some of the early losses, it was it was not enough for a total comeback. But—it halted Monday’s tech beating, sent the US indexes higher …
Bond Yields Surge—Markets Hiccup
[Chart courtesy of MarketWatch.com] Moving the markets The futures markets already indicated uncertainty, causing the Nasdaq to stumble, a trend that accelerated during the regular session with the index surrendering some -2.41%. This validated my thoughts of leaving the tech sector last week in favor of “value,” which so far has been the correct call. The Dow was unaffected by …