[Chart courtesy of MarketWatch.com] Moving the markets Friday’s last hour rebound served as a foundation for further advances, as the major indexes did not skip a beat, opened to the upside, never looked back, and ended up scoring another green close, which greatly benefitted our current positions. Helping matters was the impact of another strong short squeeze. As we’ve seen …
ETF Tracker Newsletter For July 31, 2020
ETF Tracker StatSheet You can view the latest version here. CLOSING THE WEEK WITH A BANG [Chart courtesy of MarketWatch.com] Moving the markets After Big Tech delivered blow-out earnings after the close yesterday, the futures market had the Nasdaq up by some 2% stoking hopes that the regular cash market would follow that bullish premise. It was not meant …
Plunging Economy—Nasdaq Survives Weakness
[Chart courtesy of MarketWatch.com] Moving the markets Early this morning, the Dow was down some 500 points, and other major indexes showed similar weakness, as the US economy plunged an enormous as well as unprecedented -32.9% in the second quarter confirming what I have said before: There is no V-shape recovery on the horizon. At best, we can hope for …
Fed Satisfies Markets
[Chart courtesy of MarketWatch.com] Moving the markets Markets were in a bullish mood right after the opening bell and slowly ascended in anticipation of positive news from the Fed meeting. That turned out to be the case, as the Federal Reserve left benchmark interest rates unchanged and promised to provide support until the threat of further negative economic impact by …
Markets Drift—And Dive Into The Close
[Chart courtesy of MarketWatch.com] Moving the markets Most traders were glued to their monitors today, trying to watch the talks between Republicans and Democrats wrangling for a mutually acceptable solution on a second coronavirus aid package. Noted MarketWatch: A fight looms over supplemental unemployment benefits, with Democrats eager to maintain the existing $600 weekly supplement, while the Republican plan would …
Gold Jumps And Dollar Dumps
[Chart courtesy of MarketWatch.com] Moving the markets Gold’s rally continued today, as the precious metal settled at the highest price in history, namely $1,931 with silver recapturing the $24.50 level. As gold popped, the US dollar dropped, which was to be expected as these two asset classes move in opposite direction. Equities followed gold to the upside with especially the …