Refueling The Bullish Gas Tank

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[Chart courtesy of MarketWatch.com] Moving the markets Just as quickly as trade war headlines pulled the markets off their lofty highs yesterday, negative sentiment reversed with the bulls refueling their gas tank and pushing the major indexes higher right after the opening bell. It appears that global investors are favoring the US markets due to continued optimism about the outlook …

Early Slide Followed By A Late Ramp

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[Chart courtesy of MarketWatch.com] Moving the markets For most of the session, the major indexes were aimlessly meandering below their respective unchanged lines waiting for the release of the Fed minutes in anticipation of possible changes to interest rate policy. In a sense, that wait was rewarded as markets interpreted the FOMC minutes as “dovish” meaning that rate hikes may …

Spiking Bond Yields Equals Sinking Equities

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[Chart courtesy of MarketWatch.com] Moving the markets It all started with an April slowdown in retail sales from a revised higher (+0.8%) March number to a lame +0.3% in April indicating a lack of follow through growth. That sent equities lower right after the opening to a level at which the indexes vacillated till closing with the Dow and Transports …

Early Rally Fades As Bears Score A Win; Gold Pops As Dollar Drops

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[Chart courtesy of MarketWatch.com] Moving the markets Good thing inflation data was fairly benign, as the CPI rose ‘only’ +0.2% in February, after an alarming increase in January of 0.5%, or the markets might have really taken a dive. As it turned out, the major indexes slid slowly but steadily through the entire session wiping out early gains. Despite the …

An Early Rally Fizzles As Bond Yields Rise

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[Chart courtesy of MarketWatch.com] Moving the markets The session started out with the bullish sentiment intact from yesterday’s rebound but ended with the bears taking over causing the major indexes to close at the lows of the day. The cause was “yield creep” as rates continued their march higher with the 10-year yield climbing 5 basis points to end the …