[Chart courtesy of MarketWatch.com] Moving the markets All eyes were on today’s release of the Fed’s Beige Book, which showed again that bad news can be good news, as far as the markets are concerned. To sum it up, key words that assisted the bulls were “downgraded growth,” “softening demand,” and “moderating price increases.” Manufacturing was mixed, with supply chain …
Surging Bond Yields Wreck Markets
[Chart courtesy of MarketWatch.com] Moving the markets A feeble rebound attempt right after the opening was easily rebuffed with the major indexes swinging wildly throughout the session, but the bearish theme outlasted any bullish attempts, so we closed in the red—again. The Nasdaq posted its 7th straight day of declines, its longest losing streak since November 2016, according to ZeroHedge. …
ETF Tracker Newsletter For September 2, 2022
ETF Tracker StatSheet You can view the latest version here. CRANKING AND TANKING AHEAD OF LABOR DAY [Chart courtesy of MarketWatch.com] Moving the markets An early bounce, supported by an alleged “Goldilocks” jobs report, hit a brick wall, reversed, wiped out all gains, and pulled the major indexes into the red by over 1% with the Nasdaq posting a …
Stair Stepping Deeper Into Bear Market Territory
[Chart courtesy of MarketWatch.com] Moving the markets Despite an early bounce, the major indexes did not find any lasting bullish support and chopped around during this last trading day of August without much conviction. As a result, the indexes notched their 4th straight losing session casting further doubt on a much hoped for extension of the June rebound. That wishful …
And The Bearish Beat Goes On
[Chart courtesy of MarketWatch.com] Moving the markets Bullishness during the overnight session vanished in a hurry, with the bears gaining the upper hand again and throwing doubt on a continuation of the summer comeback. The Fed and other global bankers have made it clear that their number one priority is to hike rates to crush inflation, no matter what the …
Failing To Climb Out Of A Hole
[Chart courtesy of MarketWatch.com] Moving the markets After Friday’s spanking, the major indexes continued their path lower and managed to scramble back far enough to kiss their respective unchanged lines twice. However, upward momentum vanished during the last hour, and we closed in the red again led by the Nasdaq with a 1% loss. Obviously, rising rates in conjunction with …