[Chart courtesy of MarketWatch.com] Moving the markets I have been commenting almost daily on last week’s rally, which was entirely based on wishful thinking that the Fed will have to pivot back to lowering rates. Due to the US having slipped into a recession, traders, who have been frontrunning the market, expected that this event will have to happen sooner …
Stumbling Into August
[Chart courtesy of MarketWatch.com] Moving the markets Last week’s relentless hope that Fed head Powell will be forced to pivot due to recessionary forces (lower rates), which triggered a nice rebound, became questionable as to its timing and may not happen as quickly as the markets had expected. That could affect the duration of the current bullish run. The major …
ETF Tracker Newsletter For July 29, 2022
ETF Tracker StatSheet You can view the latest version here. MAKING UP JUNE’S LOSSES [Chart courtesy of MarketWatch.com] Moving the markets Despite the Fed’s rate hike of 75 bps on Wednesday and yesterday’s Q2 negative GDP print of -0.9%, the markets perceived all of it as a positive, never mind the fact that two consecutive negative GDP readings are …
Weekly StatSheet For The ETF Tracker Newsletter – Updated Through 07/28/2022
ETF Data updated through Thursday, July 28, 2022 Methodology/Use of this StatSheet: 1. From the universe of over 1,800 ETFs, I have selected only those with a trading volume of over $5 million per day (HV ETFs), so that liquidity and a small bid/ask spread are assured. 2. Trend Tracking Indexes (TTIs) Buy or Sell decisions for Domestic and International …
Bad News Is Good News: Fed’s Rate Hike Pleases Markets
[Chart courtesy of MarketWatch.com] Moving the markets Only thing mattered today, and that was the announcement by the Fed on interest rates. Traders and algos alike engaged in the usual front running, and today they were not disappointed, as the Fed did not surprise with an unexpected hike of 1% but satisfied expectations of 0.75 increase. Late in the session, …
Walmart Cuts Forecast—Punishes Stocks
[Chart courtesy of MarketWatch.com] Moving the markets After the close yesterday, Walmart came out and cut its earnings forecast, which pulled all retailers lower in the afterhours trading session, as fears mounted that consumer spending, or rather the lack thereof, will now not be the driver to keep the U.S. out of a recession. That sour mood carried into today’s …