[Chart courtesy of MarketWatch.com] Moving the markets Global markets in general collapsed early on with the Dow at one point being down over 700 points, and that only after only 1.5 hours’ worth of trading. Contributing to the sour mood were news of the arrest of the chief financial officer of Chinese Telecom equipment maker Huawei. Canadian officials arrested the …
No Trade Deal, But A Cease-Fire Propels Markets
[Chart courtesy of MarketWatch.com] Moving the markets Even poor economic data points such as Ford announcing 25k job cuts, or subprime auto loan issuance soaring, could not derail the no-deal Trump and Xi announcement from the G-20 meeting. The agreement to hold off with any major changes resembled a temporary truce and nothing else. The US agreed to keep the …
ETF Tracker Newsletter For November 30, 2018
ETF Tracker StatSheet https://theetfbully.com/2018/11/weekly-statsheet-for-the-etf-tracker-newsletter-updated-through-11-29-2018/ WHEN FOMO REPLACES FEAR [Chart courtesy of MarketWatch.com] Moving the markets The computer algos had a field day and drove the markets higher based on the assumption that “something could maybe possibly happen” when Trump and Xi meet for dinner this weekend. That sparked a buying panic based on FOMO (Fear Of Missing Out), which put …
Approaching Resistance Levels
[Chart courtesy of MarketWatch.com] Moving the markets The November Fed minutes revealed that a rate hike was on the horizon, but the path from then on forward was uncertain and that “monetary policy in 2019 was not on a pre-set course.” Additionally, it was made clear that the expectation of 3 hikes was “flexible” and could change, if the economic …
Fed Head Powell’s Dovish Comments Power The Markets
[Chart courtesy of MarketWatch.com] Moving the markets Today, only one topic mattered and that was what Fed chief had to say about interest rates. His comment that they are “just below where they won’t stimulate the economy” was enough to get the buying spree going with the major indexes scoring solidly, as the chart above shows. The Wall Street crowd …
See-Sawing Higher
[Chart courtesy of MarketWatch.com] Moving the markets For most of the session, the major indexes see-sawed in and out of the red before, late in the day, cautious optimism prevailed insuring a green close. The gains were small, especially for the Nasdaq which barely crawled above the unchanged line. Despite the positive tone, SmallCaps (IWN) were not so lucky and …