[Chart courtesy of MarketWatch.com] Moving the markets For a change, the major market indexes managed to move higher in sync with the Nasdaq (QQQ) successfully bouncing off its 4-month trend line to close solidly in the green. News reports that the latest trade talks with China had resolved nothing pulled the indexes off their mid-day highs but kept them above …
Tech Weakness Keeps Markets Slipping
[Chart courtesy of MarketWatch.com] Moving the markets I am on the road today and tomorrow, so the market reports may be delayed… The technology sector (QQQ) continued unraveling by not only logging a third straight session in the red but also closing at its lowest level in more than 3 weeks. It’ll be interesting to see if the 4-month long …
ETF Tracker Newsletter For July 27, 2018
ETF Tracker StatSheet https://theetfbully.com/2018/07/weekly-statsheet-for-the-etf-tracker-newsletter-updated-through-07-26-2018/ AN UGLY ENDING [Chart courtesy of MarketWatch.com] Moving the markets Despite Amazon showing some glow in its earnings report, it was not enough to bail out the weaklings, namely Netflix, Twitter and Facebook, which combined to pull the tech sector off its lofty level. Other bellwethers that disappointed were Exxon and Intel causing the major indexes …
Diverging Markets
[Chart courtesy of MarketWatch.com] Moving the markets As I pointed out yesterday, Facebook’s (FB) horrific earnings report and news of further revenue deceleration for the second half of this year did spread to the Nasdaq, which stumbled and surrendered most of yesterday’s gains. Not only did FB end up losing $123 billion of its market cap, insider trading rumors are …
Easing EU Trade Tensions Propel Equities; International “Buy” generated
[Chart courtesy of MarketWatch.com] Moving the markets Trade tensions were on the front burner again, but this time not with China but with the EU, as President Trump and EU President Juncker met and hailed a new phase in trade relations. The White House meeting ended with the following positive joint statement: “We agree today, first of all, to work …
Shrugging Off A Massive Tech Reversal
[Chart courtesy of MarketWatch.com] Moving the markets Something odd is going on in the markets besides the Chinese Yuan having crashed more in the last 30 days than at anytime in history not counting the 2008 Great Financial Crisis. Yesterday, it was the sudden 10-year bond yield spike to its highest level in 5 months. Today, it was a huge …