[Chart courtesy of MarketWatch.com] Moving the markets The major indexes meandered for most of the day looking for direction and found it during the last hour, as the attempt to climb back from January’s sell-off continued. Traders’ focus seemed to have suddenly changed from the Fed towards the earnings season and those companies’ beating expectations while issuing improved forward guidance. …
Pumping On The Last Day Of A Gloomy Month
[Chart courtesy of MarketWatch.com] Moving the markets It seemed like traders and computer algos alike tried to mitigate the poor results of a dismal month by pumping the major indexes during the last two sessions with support from month-end rebalancing. For sure, some losses were cut, but the major indexes still suffered a beating with the Dow faring the best …
ETF Tracker Newsletter For January 28, 2022
ETF Tracker StatSheet You can view the latest version here. A WILD WEEK CLOSES WITH A BOUNCE BACK [Chart courtesy of MarketWatch.com] Moving the markets After 3 consecutive weeks of losses, the S&P finally managed to eke out a 0.8% gain, but it was a hard-fought battle with the move to the plus side happening during the last hour …
Fed Disappoints Markets
[Chart courtesy of MarketWatch.com] Moving the markets An early anticipatory rally bit the dust after the Fed’s announcement that they have plenty of room to raise interest rates before the economy would be negatively affected. The major indexes dove into the red but rebounded into the close. Rate hike expectations soared with traders now considering 4 hikes by year-end to …
Melting Down And Melting Up
[Chart courtesy of MarketWatch.com] Moving the markets While not nearly as dramatic as yesterday, the major indexes found themselves in another deep hole early on, with the Dow down over 500 points, yet they managed again to stage another rebound which, however, faded into the close. The Dow almost broke even, but the Nasdaq got hammered again by losing -2.28%, …
Dumping Big And Pumping Bigger
[Chart courtesy of MarketWatch.com] Moving the markets The futures markets last night indicated bullish momentum and a positive beginning in the cash markets. That turned out to be a head fake, as the major indexes collapsed after the opening with the Dow being down some 1,000 points during the session. I took the opportunity to lighten up on some of …