Pulling Off The Lofty Levels

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[Chart courtesy of MarketWatch.com] Moving the markets Bank earnings took front and center, as Morgan Stanley posted better-than-expected numbers, thereby pushing up its stock price +6%. However, banking powerhouse Goldman Sachs reported its worst earnings miss in a decade, with its stock price being pummeled at the tune of -6%. JPM’s and Citigroup’s results were mixed. As a result, the …

ETF Tracker Newsletter For January 13, 2023

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ETF Tracker StatSheet           You can view the latest version here. CONQUERING THE FLAT LINE [Chart courtesy of MarketWatch.com] Moving the markets After digging themselves out of an early hole, the major indexes crawled back slowly and surely to end another session on a positive note. Q4 bank earnings were on the agenda, as JP Morgan beat revenue expectations but …

Weekly StatSheet For The ETF Tracker Newsletter – Updated Through 01/12/2023

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ETF Data updated through Thursday, January 12, 2023 Methodology/Use of this StatSheet: 1. From the universe of over 1,800 ETFs, I have selected only those with a trading volume of over $5 million per day (HV ETFs), so that liquidity and a small bid/ask spread are assured. 2. Trend Tracking Indexes (TTIs) Buy or Sell decisions for Domestic and International …

Gambling On A Positive CPI Report

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[Chart courtesy of MarketWatch.com] Moving the markets Stocks resumed their Ramp-A-Thon into tomorrow’s CPI report, as traders were betting that Thursday’s inflation data will present validation of a decelerating trend. Confidence reigned supreme that the Fed’s rate hikes had their planned impact and that a policy reversal might be on deck, as “the Fed will cave” story gained momentum. While …

Finding Support

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[Chart courtesy of MarketWatch.com] Moving the markets After much bobbing and weaving, the major indexes found some footing and closed in the green led by the Nasdaq with a 1% gain. Upcoming economic data points and corporate earnings later this week kept the rally in check. All eyes were on Fed head Powell’s speech this morning and, as ZeroHedge pointed …

Thriving And Diving

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[Chart courtesy of MarketWatch.com] Moving the markets A continuation of Friday’s rally hit a overhead resistance, with the major indexes reversing direction and plunging below their respective unchanged lines. The exception was the Nasdaq, which managed to hang on to a +0.63% gain, as traders scooped up some of the beaten-up shares like Tesla. Optimism ruled, compared to the end …