[Chart courtesy of MarketWatch.com] Moving the Markets The US dollar rallied for the 3rd day in a row (+0.54%) and conquered its psychologically important 100 level. The main support came from the latest 4th quarter 2016 GDP upward revision from 1.9% to 2.1%, which may help the dollar to notch its first weekly advance in three. Crude Oil joined the …
Energy Provides Support For The Bulls
[Chart courtesy of MarketWatch.com] Moving the Markets Finally, the energy sector showed some signs of life with the widely followed XLE gaining +1.3% for the day while barely crawling back above its 200-day M/A by a fraction. XLE has been in a solid downtrend since early December 2016. Oil gave an assist as well by rebounding +2.15%. More help for …
Stocks Rebound In The Face Of A Rallying Dollar And Higher Rates
[Chart courtesy of MarketWatch.com] Moving the Markets Yesterday, I talked about how the Dow was on its worst losing streak since 1978 if it would hit one more down day. That dubious record was prevented as, right out of the gate this morning, the computer algos went into overdrive by slamming the VIX (volatility index) on 4 different occasions to …
Dollar And Financials Head South; Equities Recover
[Chart courtesy of MarketWatch.com] Moving the Markets Equities looked to be on a slippery slope this morning with all indexes starting the day being underwater by about -1%. For a change, dip buyers stepped in and off to the races we went recouping almost all losses at the close. However, the Dow now has notched its 8th down day in …
ETF Tracker Newsletter For March 24, 2017
ETF Tracker StatSheet https://theetfbully.com/2017/03/weekly-statsheet-etf-tracker-newsletter-updated-03232017/ HEALTH CARE BILL FAILS; MARKETS SINK [Chart courtesy of MarketWatch.com] Moving the Markets In a repeat performance of yesterday, an early rally stalled and reversed leaving the major indexes about unchanged for the day but down for the week with the S&P 500 surrendering some -1.4%. As I mentioned throughout the week, the most widely …
Hope Rally Fails As Health-Care Bill Vote Is Delayed
[Chart courtesy of MarketWatch.com] Moving the Markets One look at the above chart shows the type of roller coaster ride the major indexes went through resulting from continued uncertainty about the outcome of the health care vote. In the end, hope of a passage got crushed as the vote got postponed on doubts that it can pass handing Trump a …