[Chart courtesy of MarketWatch.com] Moving the markets The tech sector, which had been lagging the major indexes for a few weeks, staged a comeback today, as traders suddenly considered it to be some sort of safety play in the face of mounting Covid-19 incidents. As a result, the Nasdaq outperformed the Dow and S&P 500 by a substantial margin. For …
Losing Support And Dumping Into The Red—No Time For Complacency
[Chart courtesy of MarketWatch.com] Moving the markets The tug-of-war between vaccine giants Pfizer and Moderna shifted into overdrive with the former now besting the latter by pointing to its final analysis, which verified a 95% effective rate vs. Moderna’s previous 92%. I am sure that we have not heard the last of it. The news of that advancement was offset …
Gravity Keeps Markets In Check
[Chart courtesy of MarketWatch.com] Moving the markets The constant vaccine hype ran out of steam today, with concerns turning to rapidly accelerating economic shutdowns coast-to-coast, which for sure will hammer the US economy and others as well. As a result, the markets fizzled, but the pullback, while broad, was modest in scope. After all, a pause after the recent ramp …
Latest Vaccine News Ignites Equities
[Chart courtesy of MarketWatch.com] Moving the markets The futures were again directing the way via an ecstatic “hope” move in the markets with ZH narrating it this way: Last night, when discussing the euphoric surge in Sunday markets, we said that the move is on expectations that the “Moderna covid vaccine may hit as early as tomorrow, and a favorable …
ETF Tracker Newsletter For November 13, 2020
ETF Tracker StatSheet You can view the latest version here. S&P 500 Scores A Record Close [Chart courtesy of MarketWatch.com] Moving the markets Hope reigned supreme that a hypothetically effective vaccine will become reality and cause the economy to recover some time next year, which would benefit stocks. “This week’s positive vaccine news is a game-changer in our view, …
Losing Support And Dumping Into The Red
[Chart courtesy of MarketWatch.com] Moving the markets The futures market already indicated that volatility was on its way, with the indexes slipping around 1%, then trimming their losses and vacillating around their respective unchanged lines. Moving into the regular session, the Dow and S&P 500 never saw the light of day and stumbled around in negative territory, then losing footing …