[Chart courtesy of MarketWatch.com] A rebound in the tech sector helped the S&P 500 and Nasdaq to find some footing, with both indexes starting and ending the session on a positive note. Nvidia gave a much-needed assist by bouncing back from its latest slide, as did the MAG 7 stocks. The recent sell off pushed the AI darling more than …
Economic Crossroads: Inflation Data Looms As Gold And Oil Rally, Bitcoin Bruised
[Chart courtesy of MarketWatch.com] The Nasdaq was lagging as today’s session got underway with traders rotating out of the overbought tech sector and into financials, utilities, and energy, with oil climbing above the $81 level. Only the Dow managed a green close. Nvidia dropped some 5% on top of last week’s 4% decline, after the stock snapped an eight-week winning …
ETF Tracker Newsletter For June 21, 2024
ETF Tracker StatSheet You can view the latest version here. TRIPLE WITCHING LEAVES MARKETS UNSHAKEN, BUT ECONOMIC INDICATORS SUGGEST CAUTION AHEAD [Chart courtesy of MarketWatch.com] The major indexes wavered around their unchanged lines, as this monster of an options expiration session got underway. Nvidia slipped over 3% but given its 150% gain YTD, that move is insignificant. For sure, …
Weekly StatSheet For The ETF Tracker Newsletter – Updated Through 06/20/2024
ETF Data updated through Thursday, June 20, 2024 How to use this StatSheet: These are the main indicators that tell you when to buy or sell Domestic and International ETFs (section 1 and 2). They do that by comparing their position to their long-term M/A (Moving Average). If they cross above, and stay there, it’s a green light to buy. …
Market Paradox: AI Surge And Nvidia’s Slide Amidst Economic Turbulence
[Chart courtesy of MarketWatch.com] For a moment, we saw the S&P 500 trade above its 5,500 level, as the tech rally continued unabated with Nvidia in the lead. However, during this session the tech darling took a dive and scored its worst day in two months. Is it starting to look toppy? In the end, the S&P 500 and Nasdaq …
Nvidia’s Meteoric Rise Leads Market Rally, Dotcom Déjà Vu?
[Chart courtesy of MarketWatch.com] The major indexes opened slightly higher despite disappointing retails sales. While they rose 0.1% in May, expectations were for a more solid 0.2%. This latest result is a sign that consumer demand is weakening, and this 0.1% growth may simply have been the result of inflation. Rising consumer demand is critical for the markets, because without …