[Chart courtesy of MarketWatch.com] Moving the markets Today, it was Powell himself singing from the same hymn sheet that his mouthpieces have used for months, namely rates may need to go “higher for longer,” a theme I have pounded on ad nauseum. Maybe today, market participants are finally buying what Powell is selling, which caused havoc in all asset classes, …
Directionless Meandering
[Chart courtesy of MarketWatch.com] Moving the markets Equities tried to build on last week’s bullish momentum with an early bounce, which coincided with sliding bond yields, as the 10-year slipped towards its 3.9% level. However, a sudden spike in yields put the bears in charge, as the 10-year ripped off its lows and climbed back towards the 4% marker. That …
ETF Tracker Newsletter For March 3, 2023
ETF Tracker StatSheet You can view the latest version here. ENDING THE WEEK WITH A BOOM [Chart courtesy of MarketWatch.com] Moving the markets Yesterday, I had to laugh out loud when one’s man’s opinion caused bullish juices to suddenly explode, after the markets had been chopping around aimlessly for the most of the session. Bloomberg’s headline featuring the Atlanta …
Sliding Into March
[Chart courtesy of MarketWatch.com] Moving the markets Higher interest rates have been pummeling equities all last year, as most bounces ended up reversing and creating lower lows. While the Dow managed to climb temporarily into the green today, the S&P and Nasdaq struggled below their respective unchanged lines with bullish sentiment being suspiciously absent. The culprit was surging bond yields …
Ending The Month With A Whimper
[Chart courtesy of MarketWatch.com] Moving the markets Despite a good midday effort, at which time bullish sentiment exploded to the upside, the bounce turned out to be nothing more than a head fake, with two out of the three major indexes slipping back into the red—not only for the day but for the month as well. Again, economic data points …
Cautiously Advancing
[Chart courtesy of MarketWatch.com] Moving the markets Last week’s thrashing of the markets was the worst so far in 2023. So, it comes as no surprise that traders and algos engaged in some bottom fishing with another big week in retail earnings hopefully proving the support to give these efforts some staying power. While the early thrust petered out, at …