[Chart courtesy of MarketWatch.com] Moving the markets Another wild session had the markets bobbing and weaving, yet the major indexes managed to eke out a small gain. All eyes had been on the release of the Fed’s FOMC minutes from June, which indicated that they had not wavered from their commitment to bring inflation down. The unanswered question was whether …
Climbing Out Of A Deep Hole
[Chart courtesy of MarketWatch.com] Moving the markets The unpredictable and wild market swings continued today, when the major indexes crashed at the opening with the Dow dumping some 700 points. As we’ve seen numerous times in the past, a slow and steady climb ensued pulling stocks out of a deep hole, which helped the S&P end a tad in the …
Flipping, Ripping And Dipping
[Chart courtesy of MarketWatch.com] Moving the markets Dip buyers and buy-and-holders suffered through another wild session not unlike the last quarter and the first half of 2022, during which the S&P 500 headed towards its worst result since 1970. But the latest update from Bloomberg shows that the index was down 21.01% in 1970 H1, but we are currently down …
Going Nowhere Fast
[Chart courtesy of MarketWatch.com] Moving the markets Despite an early pop in the major indexes, the struggle of finding a bottom, off which to launch a bullish rebound from, eluded traders and algos alike. Absent of a major Ramp-A-Thon tomorrow, the last day of the quarter, Wall Street will be left swallowing the bitter pill that the worst half of …
Consumer Confidence Tanks—And So Do The Markets
[Chart courtesy of MarketWatch.com] Moving the markets Despite an early bounce, the major indexes hit the skids due to disappointing economic data. The reversal started with the release of the Consumer Confidence Index, which crashed to a reading of 98.7 in June from a prior 103.2 vs. an expected 100.0. Additionally, as ZeroHedge reported, the actions of Americans, dumping their …
Sloppy And Choppy
[Chart courtesy of MarketWatch.com] Moving the markets Traders continued their struggle of determining whether Friday’s comeback rally was truly indicative of stocks having found a bottom or just experienced another dead-cat-bounce. While I believe the latter is the case, we could see more upward momentum through the end of this quarter. Today, markets were just aimlessly chopping around and digesting …