[Chart courtesy of MarketWatch.com] Moving the markets Another roller coaster day saw the major indexes fluctuate wildly with an initial rally being wiped out, which pushed the Dow and S&P 500 briefly in the red. The Nasdaq managed to stay in the green and then ripped to new intra-day highs late in the session, as all indexes joined in the …
Shifting In Reverse; An Early Rally Skids
[Chart courtesy of MarketWatch.com] Moving the markets An early one-sided rally, dominated by the Nasdaq, lost momentum with all 3 major indexes hitting the skids and closing lower. The Nasdaq held up the best, while the Dow fared the harshest, but all closed at their worst levels of the session. Saving the day was gold, which not only reclaimed its …
Technology Rules
[Chart courtesy of MarketWatch.com] Moving the markets The major indexes greeted the first full week of July with a bang after the 3-day Holiday weekend, during which we were bombarded with news of more outbreaks of the coronavirus everywhere, as well as mass shootings. None of that mattered this morning, as the bullish theme prevailed right after the opening bell …
Fading Into The Weekend
[Chart courtesy of MarketWatch.com] Moving the markets An early 400-point rally in the Dow bit the dust, as the major indexes faded towards the close but managed to end up in the green for the 4th session in a row. Driving the initial gains were better than expected employment numbers of 4.8 million new jobs in June created vs. expectations …
Apples Closes More Stores—CA Closes More Restaurants—Markets Rally
[Chart courtesy of MarketWatch.com] Moving the markets Despite overnight weakness in the futures markets, positive momentum got restored on predominantly bad news, and the major indexes finished a volatile session in the green. The exception was the Dow, which hovered around its unchanged line before diving into the red at the close. The early pump was based on another “positive” …
Jolting Bullish Sentiment
[Chart courtesy of MarketWatch.com] Moving the markets On the last day of the quarter, bullish sentiment shifted into overdrive following the widely held theme of the past 90 days, that a V-shape recovery is in the cards. Of course, this rebound off the March lows has nothing to do with economic progress but everything with the Fed’s reckless money printing …