[Chart courtesy of MarketWatch.com] Moving the markets A follow-through rally ran into a brick wall, took a U-turn, and headed south with the major indexes being pulled off their lofty levels and below their respective unchanged lines. The early burst higher was based on hope that the worst economic damage is now in the past with shutdowns continuing to ease. …
ETF Tracker Newsletter For May 22, 2020
ETF Tracker StatSheet You can view the latest version here. RUNNING OUT OF STEAM [Chart courtesy of MarketWatch.com] Moving the markets Despite a heroic attempt to pump the market into another green close, the computer algos pushed the major indexes back toward their respective unchanged lines, but not much was gained, as the bullish theme ran out of steam …
Bouncing Below The Unchanged Line
[Chart courtesy of MarketWatch.com] Moving the markets Sometimes you just have to laugh at some of the market idiocy. Today, we had such a moment when Moderna (MRNA), who issued a press release on Monday, which I discussed, as to how 8 healthy young people did not die when given their latest vaccine. The obvious stock pump turned into a …
Levitating Higher
[Chart courtesy of MarketWatch.com] Moving the markets Today, upbeat quarterly earnings results from Target and Lowe’s set a positive tone and sent the major indexes to 10-week highs. However, as soon as news of a bill to delist Chinese companies from the US exchanges cleared the senate, equities came off their best levels of the day. The focus remained predominantly …
Vaccine Stock Moderna Pops And Then Drops
[Chart courtesy of MarketWatch.com] Moving the markets While the jury is still out whether we’re experiencing a bear market bounce or have moved into a new bullish cycle, I was surprised to read that two-thirds of fund managers are saying we’re still in a bear market rally. I agree with that but will change my mind once our Trend Tracking …
A One-Two Punch Rockets Markets Higher
[Chart courtesy of MarketWatch.com] Moving the markets The futures started things out by rallying sharply based on Europe data showing new corona virus cases growing at the slowest rate in months. That was followed by the US markets jumping right after the opening bell, because of drug maker Moderna announcing positive early results from its first human trial of its …