Year: 2023

9/28/23 Sachs Sees Shutdown

News: Markets opened green on Wednesdays. But after a brief rally, they took a dive. The S&P 500 was down -0.8% at 2 pm. And the outlook was bleak. Then, the tides turned. Markets rallied into the close, and the indexes squeezed out a mostly positive close… The late-day rally happened despite seemingly disastrous economic …

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9/27/23 Looks Like a Bear Trap

News: After posting a single day of gains and relieving much of the oversold conditions on Monday, markets reversed course hard on Tuesday. Markets gapped down and fell throughout the day.  Buyers didn’t show up for the broader market, and the indexes closed deep in the red… Headlines continue to blame rate hike fears. Sector …

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9/25/23 Bottom in Sight

News: On Friday, markets tried to rally.  By lunchtime, the bulls had made some headway. But the gains didn’t hold. The indexes faded all afternoon and settled at their session lows and slightly red… Sector Round Up Most sectors ended Friday’s session lower.  Of the 11, there were 2 sectors that squeezed out small gains. …

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9/22/23 Falling into Friday

News: Markets spent another day in the red on Thursday. The selling has accelerated since the latest Fed decision dropped. The indexes plunged and settled at their session lows… 10-year notes reached their highest levels since 2007 at 4.5% on Thursday. Higher long-term rates are thought to compete with stocks. Sector Round Up All of …

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9/20/23 Decision Day

News: On Tuesday, markets opened in the red and faded through the morning session. The bottom was in at lunchtime, and then buyers pushed prices higher. The indexes settled in the red but well off their session lows… Notably, crude oil prices are showing signs of peaking… This morning, markets are awaiting The Fed decision, …

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9/19/23 Waiting for Wednesday

News: Markets stalled during Monday’s session. The indexes barely budged… The market’s attention has turned to The Fed as the 7th FOMC meeting of 2023 gets underway today in Washington. Sector Round Up 5 of the 11 sectors posted gains on Monday. At the top… At the bottom… Technicals:  This morning, the S&P 500’s year-long …

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