[Chart courtesy of MarketWatch.com] Moving the markets Another head fake session saw the Dow gaining over 300-points early on, but the rally quickly lost steam with the major indexes briefly dipping into the red, before a late push saved the day. The Dow settled at about unchanged, but the S&P 500 eked out a modest 0.31% advance. The early boost …
ETF Tracker Newsletter For June 3, 2022
ETF Tracker StatSheet You can view the latest version here. KILLING THE DEAD-CAT BOUNCE [Chart courtesy of MarketWatch.com] Moving the markets Sometimes you simply must shake your head and laugh out loud. Yesterday’s rally, AKA another dead-cat-bounce, was such an occasion, as headline news were peppered with bearish announcements such as “plunging productivity,” an “ugly ADP announcement,” followed by …
Markets Get Double-Punched
[Chart courtesy of MarketWatch.com] Moving the markets After an early bounce, the markets got double punched via a variety of headlines that gave the bears the upper hand and allowed them to dominate this session. We learned that “inflation is sticky and degrowth is not slowing it,” as well as a warning by JP Morgan’s Jamie Dimon that “it’s a …
Running Out Of Steam
[Chart courtesy of MarketWatch.com] Moving the markets A roller-coaster month saw the S&P 500 dip into bear market territory (-20% from its recent high), before last week’s rebound rally pulled the index out of the doldrums. But that move ended today, with the major indexes simply running out of steam at the end of the session. Inflation, monetary tightening and …
ETF Tracker Newsletter For May 27, 2022
ETF Tracker StatSheet You can view the latest version here. DOW BREAKS OUT OF 8-WEEK SLUMP [Chart courtesy of MarketWatch.com] Moving the markets The major indexes continued their rebound out of oversold territory for the second session and managed to combine two bullish days to finally break the Dow’s eight-week slump, while the S&P 500 and Nasdaq each conquered …
Hawkish Fed: No News Is Good News
[Chart courtesy of MarketWatch.com] Moving the markets Nothing mattered today other the release of the Fed minutes. There were no surprises with the policy meeting notes showing that the Central Bank is prepared to raise rates further than anticipated. This should have been reason enough for a sell off, but that did not happen. A deeper analysis of the minutes …