ETF Tracker StatSheet https://theetfbully.com/2017/12/weekly-statsheet-etf-tracker-newsletter-updated-12142017/ EXTENDING THE WEEKLY GAIN STREAK [Chart courtesy of MarketWatch.com] Moving the markets When looking at yesterday’s weakening market action, today can only be described as “opposite” day, as senators Rubio and Corker fell in line and announced a “Yes” vote to the long overdue agreement on Trump’s tax plan, as a last minute expansion of …
When A Done Deal Is Apparently Not A Done Deal
[Chart courtesy of MarketWatch.com] Moving the markets Market exuberance reigned early on and had the major indexes on track to set more record highs when jawboning by senators Rubio and Lee caused a case of severe tax-reform-anxiety. While we all thought the tax reform was a done deal, it does not appear so as questions regarding the “child tax credit” …
Snapping The Losing Streak; Tech Sector Finally Rebounds
[Chart courtesy of MarketWatch.com] Moving the markets The major indexes managed to recover in sync for a change with the S&P 500 snapping its 4-day losing streak. Wall Street was continuing to focus on the progress of the tax legislation while looking with much anticipation towards Friday’s jobs report. Apparently, the possibility of a government shutdown did not affect markets, …
A Great Start And A Lousy Ending
[Chart courtesy of MarketWatch.com] Moving the markets The Nasdaq powered ahead early in the session as the Dow and S&P 500 struggled to find some traction. However, the euphoria was short lived as mid-day selling pulled all three indexes lower and below the unchanged line. Tranportations (IYT), who had put up some strong numbers in recent days, under-performed and lost …
Shifting Into Overdrive
[Chart courtesy of MarketWatch.com] Moving the markets Momentum for equities shifted into overdrive supported by two events. First, Trump’s nominee to run the Federal Reserve, Jerome Powell, testified at a Senate confirmation hearing that “he expects to stay on the course” set by the current Fed chief Yellen. Obviously, these were words that traders wanted to hear and off to …
Continuing The Upward Path
[Chart courtesy of MarketWatch.com] Moving the Markets Friday’s strong rebound continued today although at a lesser pace. Nevertheless, the major indexes rose in unison as Wall Street traders kept the prospect for the tax cuts and corporate earnings in focus. Despite political upheaval in Germany, caused by Chancellor Merkel not being able to form a coalition government, equities on both …