[Chart courtesy of MarketWatch.com] Moving the markets The explosion in US Pending Home Sales was the tie breaker today after reports that New Home Sales soared, and Existing Homes Sales plunged. The computer algos went with the rebound of 44.3% vs. 19.3% expected Pending Home Sales and pushed the major indexes to a solid green close, However, it was not …
ETF Tracker Newsletter For June 26, 2020
ETF Tracker StatSheet You can view the latest version here. DIVING INTO THE WEEKEND [Chart courtesy of MarketWatch.com] Moving the markets Yesterday’s late pump vanished in a hurry this morning, as the major indexes opened in the red, slipped but found some mid-day support, before diving into the close. News of spikes in coronavirus cases were the cause with …
Slumping—Then Pumping
[Chart courtesy of MarketWatch.com] Moving the markets The markets did not show us a rebound this morning, so the Domestic “Sell” signal stands—at least for the time being. We’re living in such uncertain times, that we can never be sure, nor does anybody know, if this was just one more head fake or the beginning of another devastating down trend, …
Covid-19 Infects Markets—Domestic “Sell” Generated
[Chart courtesy of MarketWatch.com] Moving the markets Yesterday, I was talking about the markets being stuck in a neutral zone regarding our Domestic Trend Tacking Index (TTI) and that more evidence of either bullishness or bearishness would determine our next cause of action. We got that signal today when the major indexes plunged right after the opening bell with the …
Losing Steam
[Chart courtesy of MarketWatch.com] Moving the markets Yesterday was one of those moments, while watching the futures markets, when I had to laugh out loud. The major indexes were creeping higher when suddenly the bottom dropped out with the Down plunging over 500 points in minutes. Turns out that Trump’s trade advisor Navarro responded during a Fox News interview regarding …
Cautiously Advancing
[Chart courtesy of MarketWatch.com] Moving the markets An early choppy ride turned out better than expected, as the bullish theme increased momentum and pushed the major indexes to a green close, with especially the Nasdaq showing a solid gain and scoring a new all-time high. The Dow added a more modest +0.59% but was able to recapture its 26k milestone …