[Chart courtesy of MarketWatch.com] Moving the markets Despite positive earnings from Microsoft and Google after the close yesterday, the troubles of First Republic Bank (FRC) continued today and overshadowed all news with the stock sliding another 30% on top of yesterday’s 50% dump. As I have repeatedly pointed out, there is never just one cockroach, a theory which appears to …
Breaking Out—To The Downside
[Chart courtesy of MarketWatch.com] Moving the markets I was pondering yesterday if, in the absence of a bullish driver, the markets might take the path of least resistance, which would be down. That was the case today, as the major indexes opened in the red, with the bears taking over and manhandling any bullish sentiment with utter ease, thereby assuring …
Stuck In A Holding Pattern
[Chart courtesy of MarketWatch.com] Moving the markets In a repeat of last week’s activity, the major indexes spent most of the session vacillating near their respective unchanged lines but managed to slightly close in the green, with the Nasdaq being the exception. Earnings season, economic data, upcoming Central Bank actions, and geopolitical tensions kept traders and algos on edge causing …
ETF Tracker Newsletter For April 21, 2023
ETF Tracker StatSheet You can view the latest version here. TREADING WATER [Chart courtesy of MarketWatch.com] Moving the markets Today’s activity pretty much resembled how the markets fared during this entire week. It was a snooze fest with neither buyers nor sellers being motivated to act, with the result that the S&P 500 lost 4 points, or 0.1%. Yesterday, …
Lacking Inspiration
[Chart courtesy of MarketWatch.com] Moving the markets It was another session during which traders adopted a “wait and see” attitude, as they digested the latest earnings reports along with their potential economic consequences. The major indexes chopped around within a narrow range and ended essentially unchanged. Even though the view that earnings have been resilient, given reduced expectations, some profit …
Searching For Clues
[Chart courtesy of MarketWatch.com] Moving the markets Traders spent most of the day examining the latest earnings results for clues to determine whether optimism via higher stock prices was warranted. The major indexes meandered aimlessly around their respective unchanged lines, predominantly below it, until a last hour squeeze play assured a moderately green close, but it pulled the KBW banking …