[Chart courtesy of MarketWatch.com] Moving the markets Traders and algos were in a buying mood based on continued hopes that a stimulus deal will be agreed upon before the end of 2020. This enthusiasm has been the main driver with congressional leaders homing in on a $900 billion package that would include direct payments to individuals. Even worsening Initial Jobless …
Slipping, Sliding And Bouncing
[Chart courtesy of MarketWatch.com] Moving the markets After some aimless meandering early on, the major indexes found some footing, because of Fed’s latest promise to keep supporting the economy with whatever means necessary. Added CNBC: The U.S. central bank said it will buy at least $120 billion of bonds each month “until substantial further progress has been made toward the …
Stimulus Talk Stimulates Markets
[Chart courtesy of MarketWatch.com] Moving the markets Optimism reigned supreme that Congress will finally pass another economic relief bill after wrangling with it for weeks. Apparently, the warring parties are growing wary and concerned about an economic fallout if no agreement is being attained. House Speaker Nancy Pelosi invited congressional leaders, including Senate Majority Mitch McConnell, to discuss government funding …
Leaking Lower
[Chart courtesy of MarketWatch.com] Moving the markets As solid early rally hit the skids, as the Dow performed a 330-point U-turn with two of the three major indexes closing in the red leaving only the Nasdaq above its unchanged line and sporting a +0.50% advance. As has been the case lately, SmallCaps outperformed but even that sector gave up part …
ETF Tracker Newsletter For December 11, 2020
ETF Tracker StatSheet You can view the latest version here. SAME NEWS, DIFFERENT DAY [Chart courtesy of MarketWatch.com] Moving the markets The futures markets already indicated a continuation of this week’s directionless pattern, which dominated the regular session as well. The usual suspects contributed to uncertainty, as the Brexit talks appeared to be collapsing, the much hoped-for stimulus package …
Stuck In Neutral
[Chart courtesy of MarketWatch.com] Moving the markets The rebounding efforts after yesterday’s slump already failed in the futures market, and this uncertainty carried over into the regular session with the Dow and S&P slipping, while the Nasdaq shook off weakness and closed in the green by +0.54%. Some market sectors saw solid increases, such as SmallCaps (IWO) and MidCaps (IWP), …