[Chart courtesy of MarketWatch.com] Moving the markets The S&P 500 is close to its highest level in nine months, but don’t get too excited. This rally is driven by a few big stocks, while most of the market is lagging. That’s a sign of weakness, not strength, according to analyst Lance Roberts. He explains: Breadth is important. A rally on …
Apple’s “Appulus” Fails To Impress As Market Turns Sour
[Chart courtesy of MarketWatch.com] Moving the markets The market rally fizzled out on Monday as the major indexes gave up their early gains and closed nearly flat or lower. The Dow was the biggest loser, while the S&P 500 and Nasdaq barely stayed above water. According to Bespoke Investment Group, the S&P 500 is now more overbought than any time …
ETF Tracker Newsletter For June 2, 2023
ETF Tracker StatSheet You can view the latest version here. Bulls Run Wild After Senate Unleashes Money Printing: How Long Can It Last? [Chart courtesy of MarketWatch.com] Moving the markets The market soared today after the Senate cleared the way for more money printing by suspending the debt ceiling until 2025. This means the Fed and the politicians can …
Congress Clears Debt Hurdle, Traders Cheer And Fear
[Chart courtesy of MarketWatch.com] Moving the markets After weeks of political drama, Congress finally passed the debt ceiling bill last night, much to the relief of the traders who celebrated with a rally. The bill is now heading to the Senate, where it is expected to sail through smoothly. Sources say the Senate won’t rest until Biden signs it into …
Market Dips As Debt Deal Hangs In Balance And Fed Sends Mixed Signals
[Chart courtesy of MarketWatch.com] Moving the markets Wall Street was in a gloomy mood today as the debt ceiling deal faced uncertainty and opposition in Congress. The House Rules Committee approved the deal, but the final vote will take place tonight at 8:30pm EST. The major indexes stayed in the red all day, despite a late rally that trimmed some …
Debt Ceiling Deal in Doubt, Markets Waver
[Chart courtesy of MarketWatch.com] Moving the markets The debt ceiling drama is far from over. Even though the two parties have reached a tentative deal, they still need to pass it in Congress by tomorrow. But many lawmakers are not in town, and some Republicans are not on board. This could spell trouble for the compromise bill. The markets were …