[Chart courtesy of MarketWatch.com] Moving the markets Again, it was a trading day that had me shaking my head. After yesterday’s drubbing, with the Dow losing close to 400 points, an explosive rebound sent the major indexes back into rally mode wiping out just about all of yesterday’s losses. It was a headline, that the speed-reading computer algos interpreted …
ETF Tracker Newsletter For August 9, 2019
ETF Tracker StatSheet You can view the latest version here. DIVING INTO THE WEEKEND—AND RECOVERING [Chart courtesy of MarketWatch.com] Moving the markets It ended up being a mixed Friday, as the major indexes did an early swan dive but, despite recovering some of the losses, they still closed in the red. It was a wild week, which could have …
Buybacks And A Short-Squeeze Drive The Rebound
[Chart courtesy of MarketWatch.com] Moving the markets Two forces combined to pull the markets out of the doldrums after Monday’s drubbing. For one, we saw corporate buybacks pick up speed, and two, a giant short-squeeze, now its third day, threw an assist to push the S&P 500 slightly above last Friday’s close. Both, the Nasdaq and S&P are back in …
An Early Dump Is Followed By A Late Pump
[Chart courtesy of MarketWatch.com] Moving the markets The markets lucked out, as an early sharp sell-off found some footing, after which buyers stepped in to scoop up assets at lower prices with all losses being wiped out by the end of the session. Whether that was just a one-day outlier, or a resumption of the bullish trend, remains to be …
Solid Relief Rally Wipes Out A Chunk Of Yesterday’s Losses
[Chart courtesy of MarketWatch.com] Moving the markets While the initial morning rebound faded mid-day, buyers stepped in subsequently and pushed the major indexes out of the doldrums and into a solid green close. Helping matters was China stabilizing the problem child that caused yesterday’s panic selling, namely the Juan. The PBOC (China’s main bank) fixed the Juan at 6.9683 per …
China Retaliates—Global Markets Get Clobbered—Stocks Plunge Most In 2019
[Chart courtesy of MarketWatch.com] Moving the markets The basic law of physics tells us that any ‘action’ is followed by an equal or greater ‘reaction.’ This became very clear today when, after Trump’s threat of additional tariffs last week, the Chinese retaliated by letting their currency, the Juan, float freely by removing the US dollar peg. The Juan dropped to …