Markets Take A U-Turn Into The Red

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[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

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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 …

Levitating Higher

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[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 …

A One-Two Punch Rockets Markets Higher

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[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 …