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[Chart courtesy of MarketWatch.com] Moving the markets I had to look at the chart several times before realizing that May crude oil had crashed over 300%, as of this writing, into negative territory, and a barrel of WTI settled at a price of MINUS $37. In other words, a seller was willing to pay a buyer that very $37—just to …

Jobless Claims Soar—Markets Dump And Pump [Chart courtesy of MarketWatch.com] Moving the markets The major indexes went on another roller coaster ride but managed to eke out a green close. Today’s jobless numbers were almost as bad as last week’s with 5.245 million new filings for unemployment benefits, but at least this was in line with expectations. However, when looking …

[Chart courtesy of MarketWatch.com] Moving the markets Even the news scanning computer algos could not prevent an early market dump, as a variety of headlines confirmed what had been feared most, namely, an economic breakdown in a variety of sectors. Here’s a random capture of titles that caught my attention: Homebuilder Sentiment Collapses As Mortgage Purchase Apps Plunge To Lowest …

[Chart courtesy of MarketWatch.com] Moving the markets Hope of a reopening of the economy kept the bullish theme alive with the computer algos feasting on the latest news that the worst human toll of the coronavirus may have passed. ZeroHedge summed it up like this: In case stocks needed another reason to soar higher with 20% unemployment, 30% mortgage defaults, …

[Chart courtesy of MarketWatch.com] Moving the markets In case you missed it or got confused by last week’s efforts by the Fed to rescue the markets via an alphabet soup of emergency measures, analyst and author Graham Summers put together an easy to understand summary: On Thursday the Fed announced a $2.3 trillion (with a “T”) monetary program. In its …