[Chart courtesy of MarketWatch.com] Moving the markets While the major indexes were hugging their respective unchanged lines for most of the session, a last hour breakout allowed equities to close moderately in the green after the thrashing of last week. It was aimless meandering for the most part with the Dow trading in a range from -260 points to +180 …
ETF Tracker Newsletter For September 16, 2022
ETF Tracker StatSheet You can view the latest version here. FedEx WHACKS MARKETS [Chart courtesy of MarketWatch.com] Moving the markets After yesterday’s thrashing, the markets continued to vacillate in red territory throughout the entire session, but the major indexes managed to rebound a bit to close off the lows for the day. Still, it was a week that most …
Struggling For Direction
[Chart courtesy of MarketWatch.com] Moving the markets After yesterday’s bloodbath, it came as no surprise that dip buyers surfaced and nibbled hoping to catch the market equivalent of a falling knife. The major indexes vacillated above and below their respective unchanged lines but managed to eke out some small gains, thanks to a last hour rebound. Trying to find some …
Markets Puke After CPI Data
[Chart courtesy of MarketWatch.com] Moving the markets The wishful thinking of traders and algos alike, that peak inflation was behind us, came to a screeching halt today, when the latest CPI number showed a worse than expected reading of 8.3, and that a Fed pivot to lower rates is now nowhere on the horizon. For months, I have commented ad …
Front Running The CPI Report
[Chart courtesy of MarketWatch.com] Moving the markets Stocks continued last week’s momentum to higher ground, as traders are still convinced that peak inflation is in the rear-view mirror, and that future rate hikes might be smaller because of it. That goes against Fed head Powell’s repeated assertions that he remains “strongly committed” to bring down inflation. No matter how the …
ETF Tracker Newsletter For September 9, 2022
ETF Tracker StatSheet You can view the latest version here. SHATTERING A 3-WEEK SLUMP [Chart courtesy of MarketWatch.com] Moving the markets Despite the Fed having gone all out with its resolve of fighting inflation confirmed via a variety of speeches by Fed governors and Fed head Powell himself during his Jackson Hole 10-minute closing speech, the markets are simply …