[Chart courtesy of MarketWatch.com] Moving the Markets Despite ECB’s Mario Draghi not exactly fulfilling the dreams of European traders by offering a mixed monetary policy decision via his announcement that his asset buys will be continued although at a reduced pace (from $80 billion a month to $60 billion), it did not matter. European markets rallied anyway with the German …
Reaching The Melt-Up Zone
[Chart courtesy of MarketWatch.com] Moving the Markets Even President-elect Trump’s early remarks that “I am going to bring down drug prices” couldn’t prevent the major indexes from storming into record territory with the exception being Healthcare-names as the Biotech ETF IBB got flattened by losing -2.94%. It started in Europe where, despite the worsening Italian banking crisis, which is counting …
Upward Trend Continues
[Chart courtesy of MarketWatch.com] Moving the Markets The upward trend continued in the face of potential adversity such as the Eurozone’s political uncertainty, in part caused by the outcome of the Italian referendum, which so far has been treated as a non-event despite serious monetary ramifications. The ECB is on deck this week and scheduled to announce further monetary policy …
Italy’s Referendum Defeated, But Equities Rally
[Chart courtesy of MarketWatch.com] Moving the Markets I had to laugh this morning after the Italian referendum was soundly defeated putting the Eurozone banking system in danger zone in regards to a much needed bailout of the Italian banks, but Europe stocks rallied sharply with the German Dax gaining 1.63%. As one trader remarked “Brexit took 3 days to recover …
ETF Tracker Newsletter For December 2, 2016
ETF Tracker StatSheet https://theetfbully.com/2016/12/weekly-statsheet-for-the-etf-tracker-newsletter-updated-through-12012016/ Market Commentary Trump Euphoria Fades [Chart courtesy of MarketWatch.com] Moving the Markets On the surface, today’s payroll data was a resounding success with the US jobless rate falling to 9-year lows and employers adding some 178,000 jobs confirming that the 100% rate hike odds when the Fed meets later on this month may turn into reality. …
A Tale Of Two Markets
[Chart courtesy of MarketWatch.com] Moving the Markets It was a tale of two markets with the Dow still pushing into record territory while the Nasdaq tanked and closed below the unchanged line joined by the S&P 500. The Dow’s support came from the banking and energy sector, the latter which was powered by continued strength in oil prices (+2.97%) as …