[Chart courtesy of MarketWatch.com] Moving the Markets After a good start in the New Year, softness set in with the major indexes meandering aimlessly although the Nasdaq managed to eke out a small gain. Weighing on the broad market were sharp drops in Kohl’s and Macy’s after yesterday’s announcement that the holiday season was not only poor, but that also …
ETF Tracker Newsletter For December 30, 2016
ETF Tracker StatSheet https://theetfbully.com/2016/12/weekly-statsheet-for-the-etf-tracker-newsletter-updated-through-12292016/ Market Commentary Year End Resistance [Chart courtesy of MarketWatch.com] Moving the Markets For sure, I thought there would have been a last minute attempt at reaching the much talked about 20k Dow level during this last trading week of 2016, but it did not happen. Actually, the post election momentum reversed with the S&P 500 declining …
Treading Water
[Chart courtesy of MarketWatch.com] Moving the Markets Quiet holiday trading took over with the major indexes vacillating slightly above and below their respective trend line without clear direction and again on low volume. The exception was gold, which finished a 5-day winning streak by adding a solid +1.59% for the day. The dollar gave back some of its recent gains …
Finishing In The Red
[Chart courtesy of MarketWatch.com] Moving the Markets The major indexes pulled back for a change as volume and the hunt for Dow 20,000 slowed down ahead of the Christmas Holiday. Healthcare and real estate were the primary losers today. Banking stocks in Europe round-tripped this morning as the shares of Italy’s problem child, Monte Paschi, crashed, soared and plunged again …
Almost Reaching Dow 20,000
[Chart courtesy of MarketWatch.com] Moving the Markets The recklessness and utter abandon with which the markets have been rallying, since the election, is simply astounding. Caution, risk aversion or view of economic fundamentals do either not exist or are simply ignored. It is financial engineering combined with market manipulation at its finest. Such was the case again today as the …
Edging Higher On A Tumultuous Day
[Chart courtesy of MarketWatch.com] Moving the Markets It was a reluctant rally with investors being hesitant considering that the major indexes were still hovering near all-time highs; bond markets finally managed to stage a modest recovery after the drubbing of the past few weeks. Not helping matters were reports from Germany that a truck ran into a crowded Christmas market …