ETF Tracker StatSheet You can view the latest version here. RECORD TECH SALES—STOCKS TANK [Chart courtesy of MarketWatch.com] Moving the markets As I noted yesterday, tech earnings dominated the news with quarterly sales coming in worse than expected, which soured the mood for the session with Dow being down over 400 points before cutting its losses. It was amazing …
Digging A Hole And Staying In It
[Chart courtesy of MarketWatch.com] Moving the markets The markets dug themselves an early hole and never managed to climb out of it, despite several attempts. But, in the end downside momentum accelerated, and we closed at the lows for the day. The futures again pointed to weakness with Germany and France set to impose new lockdowns in addition to the …
Bouncing Like A Pinball
[Chart courtesy of MarketWatch.com] Moving the markets One look at the S&P 500 chart above shows the lack of direction and the aimless meandering that underscored today’s session with 2 of the 3 major indexes closing in the red by a small margin. If I am repeating myself, it’s only because the same issues are plaguing the markets, rising coronavirus …
Volatility Pops—Market Drops
[Chart courtesy of MarketWatch.com] Moving the markets The futures markets already indicated equity weakness, which was confirmed after the opening bell rang. Stocks opened in the red and dove for most of the session until some buyers stepped in and reduced the early losses. The storyline was the same as we heard last week, except traders have now come accept …
ETF Tracker Newsletter For October 23, 2020
ETF Tracker StatSheet You can view the latest version here. AIMLESS MEANDERING [Chart courtesy of MarketWatch.com] Moving the markets While the chart above shows a nice rebound for the S&P 500 off its mid-day lows, keep in mind that today’s activity happened within a very narrow trading range of less than 1%. Traders were not willing to commit one …
Hope For Stimulus Reigns Supreme
[Chart courtesy of MarketWatch.com] Moving the markets The never-ending stimulus saga continued to govern the headlines, as artful rhetoric by skilled politicians kept the hope alive that a compromise will still be a possibility—soon. Posted CNBC: Pelosi said Thursday a deal on new coronavirus aid was “just about there.” She also said: “If we were not making progress, I wouldn’t …