[Chart courtesy of MarketWatch.com] Moving the markets Last week’s thrashing of the markets was the worst so far in 2023. So, it comes as no surprise that traders and algos engaged in some bottom fishing with another big week in retail earnings hopefully proving the support to give these efforts some staying power. While the early thrust petered out, at …
ETF Tracker Newsletter For February 24, 2023
ETF Tracker StatSheet You can view the latest version here. SURGING BOND YIELDS SPANK EQUITIES [Chart courtesy of MarketWatch.com] Moving the markets After yesterday’s modest bounce of hope, traders and algos alike were hit with another reality check, namely the fact that the Fed’s preferred measurement of inflation, the PCE (Personal Consumption Expenditures Price Index) rose 0.6% in January …
Popping And Dropping
[Chart courtesy of MarketWatch.com] Moving the markets The release of the most recent Fed minutes was on traders’ minds, while they looked for clues as to what the next move by the Central Bank would be in terms of inflationary measures. An early bounce of hope reversed, despite a short squeeze, and the bears scored another win with the S&P …
Reality Check
[Chart courtesy of MarketWatch.com] Moving the markets It appeared that traders and algos alike finally were confronted with a reality check, namely that interest rates will not retreat and likely move considerably higher. This has been the consistent theme of the Fed and its mouthpieces, and I have repeatedly suggested that front running and hopeful thinking does not change underlying …
ETF Tracker Newsletter For February 17, 2023
ETF Tracker StatSheet You can view the latest version here. HAWKISH FED SPEAK OVERWHELMS MARKETS [Chart courtesy of MarketWatch.com] Moving the markets Yesterday’s thrashing of the markets continued early this morning, but the major indexes again climbed back, yet only the Dow was able to eke out a small gain. Thursday afternoon, Fed mouthpieces Mester and Bullard combined forces …
Climbing Out Of A Hole—Again
[Chart courtesy of MarketWatch.com] Moving the markets Yesterday’s hotter-than-expected CPI report could not keep the markets under water for any length of time. The same meme was at play today, after a stronger-than-expected retail sales report pushed equities into an early hole. In an almost repeat performance, the major indexes battled back, reclaimed their unchanged lines and closed moderately in …