[Chart courtesy of MarketWatch.com] Moving the Markets Two things pulled the rug out from early positive momentum at the opening. One, disappointing March auto sales, which should not have come as a surprise given the gigantic slip in retail sales including some 3,500 announced store closings, and two, the topic I have been pounding on lately, namely that questions about …
ETF Tracker Newsletter For March 31, 2017
ETF Tracker StatSheet https://theetfbully.com/?p=18736&preview=true A Great Quarter Ends With A Whimper [Chart courtesy of MarketWatch.com] Moving the Markets While it was a great quarter for the indexes, it ended with a whimper as equities could not sustain the upward momentum into the close. Most of the gains were made in January and February while March was a non-event month for …
Dollar Rallies And Pushes Equities Higher
[Chart courtesy of MarketWatch.com] Moving the Markets The US dollar rallied for the 3rd day in a row (+0.54%) and conquered its psychologically important 100 level. The main support came from the latest 4th quarter 2016 GDP upward revision from 1.9% to 2.1%, which may help the dollar to notch its first weekly advance in three. Crude Oil joined the …
Energy Provides Support For The Bulls
[Chart courtesy of MarketWatch.com] Moving the Markets Finally, the energy sector showed some signs of life with the widely followed XLE gaining +1.3% for the day while barely crawling back above its 200-day M/A by a fraction. XLE has been in a solid downtrend since early December 2016. Oil gave an assist as well by rebounding +2.15%. More help for …
Stocks Rebound In The Face Of A Rallying Dollar And Higher Rates
[Chart courtesy of MarketWatch.com] Moving the Markets Yesterday, I talked about how the Dow was on its worst losing streak since 1978 if it would hit one more down day. That dubious record was prevented as, right out of the gate this morning, the computer algos went into overdrive by slamming the VIX (volatility index) on 4 different occasions to …
Dollar And Financials Head South; Equities Recover
[Chart courtesy of MarketWatch.com] Moving the Markets Equities looked to be on a slippery slope this morning with all indexes starting the day being underwater by about -1%. For a change, dip buyers stepped in and off to the races we went recouping almost all losses at the close. However, the Dow now has notched its 8th down day in …