[Chart courtesy of MarketWatch.com] Moving the markets After the release of the highly anticipated CPI report, which came in “cooler” than expected, the major indexes stormed ahead with the Dow scoring a quick 400-point gain. The S&P 500 recouped its 200-day M/A but gave back that “victory” later in the session. The CPI increased just +0.1% from the prior month …
Front Running The CPI Report
[Chart courtesy of MarketWatch.com] Moving the markets While moderate bullish sentiment dominated market direction throughout the day, traders decided to shift upward momentum into overdrive during the last hour of the session, thereby pushing equities sharply higher. The major indexes sported solid gains in the end, indicating that tomorrow’s CPI number is expected to come in lower than had been …
ETF Tracker Newsletter For December 9, 2022
ETF Tracker StatSheet You can view the latest version here. ENDING THE WEEK TO THE DOWNSIDE [Chart courtesy of MarketWatch.com] Moving the markets Yesterday’s rebound now appears to have been an outlier, as the major indexes, following an early bounce, lost their mojo and dropped into the close ending a week that turned out to be the worst since …
Bobbing And Weaving
[Chart courtesy of MarketWatch.com] Moving the markets After 4 days of declines, the major indexes vacillated around their respective unchanged lines and, despite several breakout attempts, nothing was gained or lost. The exception was gold, with the precious metal adding 1% and closing right at its $1,800 level. Worries about a worsening recession in 2023 remained on traders’ minds, along …
Recession Fears Dominate Markets
[Chart courtesy of MarketWatch.com] Moving the markets Yesterday’s downward momentum carried over into today’s session and accelerated throughout the day, but a last hour rebound prevented a worse outcome. This is now the 4th straight day of declines for the S&P 500, which has now retreated clearly below its 200-day M/A, thereby nullifying its recent break above it. Looking at …
No Place to Hide
[Chart courtesy of MarketWatch.com] Moving the markets After last week’s rebound, that resulted in the S&P 500 finally breaking through its 200-day M/A, which has served as a glass ceiling since April, none of that feel good bullish sentiment was present today. From the opening bell, the major indexes headed south caused by sudden fears that the Fed may not …