[Chart courtesy of MarketWatch.com] Moving the markets The continuing crisis in China with their worsening Evergrande developer spectacle and potential default in the hundreds of billions of dollars, was simply moved to back burner, at least for this session. However, this fact remains: But the elephant in the room is not the write down of a modest $18 billion in …
Fed Stokes Markets
[Chart courtesy of MarketWatch.com] Moving the markets Despite the Fed’s (FOMC) most hawkish statement in 3 years, the markets took it as a positive and propelled the major indexes out of their recent doldrums, with all 3 of them advancing around 1% for the session. Support for stocks came from the fact that the Fed will not initiate an immediate …
Signs Of Lethargy
[Chart courtesy of MarketWatch.com] Moving the markets An early bounce, indicating dip buyers stepping in to take advantage of lower prices because of yesterday’s slam, ran out of steam with the major indexes lacking bullish conviction to turn this session into a turnaround Tuesday. Despite valiant efforts, the Dow and the S&P 500 gave up all early gains and slipped …
Pummeled And Beaten
[Chart courtesy of MarketWatch.com] Moving the markets The market mantra of the past few weeks of “digging a hole and climbing out of it” failed miserably today, as dip buyers remained conspicuously absent thereby handing the directional baton to the bears. A host of factors combined forces to pull the markets down, including Delta troubles, Fed taper talk, the upcoming …
Purging And Surging
[Chart courtesy of MarketWatch.com] Moving the markets An early purge in the markets was met with a subsequent surge, which propelled the major indexes back to their respective unchanged lines, but only the Nasdaq managed to score a green close. Retail sales surprised by rising 0.7% MoM, which was exactly the opposite of expectation of a 0.8% MoM drop. Helping …
Conquering The September Doldrums
[Chart courtesy of MarketWatch.com] Moving the markets Despite a shaky start, the major indexes found support and managed to overcome the September doldrums, at least for this day. Bullish momentum surfaced with equities accelerating to the upside during the afternoon session, and all three indices closed the day with solid gains. While the battle between Small Caps (VBK) and Value …