News: On Monday, markets slid lower ahead of the FOMC meeting, which convenes today. The selling was controlled but widespread. Each of the major indexes finished near their lows of the day. After leading the charge for several days, the Nasdaq dragged the market lower. The decline was likely driven, in part, by profit-taking after …
News: Welcome to the final trading days of January. On Friday, markets opened near flat and chopped around during the morning session. By mid-afternoon, stocks were mostly higher but faded in the final hour of trading. The bulls held on to claim victory before heading into the weekend. Once again, the Nasdaq led. The star …
News: Estimated annualized GDP growth in Q4 of 2022 came in at 2.9%. In short … People are still spending money, and a recession is becoming less and less likely. After the data was released, the markets lurched higher, traded mostly in the green, and closed at their highs. The Nasdaq led. It was pulled …
News: Wednesday morning belonged to the bears. Markets opened lower and fell. One hour into the trading session, the Nasdaq was down about 2.5%. But that’s as far as the bears got… Stocks clawed back the losses and closed the day mixed and near flat… Sector Round Up The bulls ended the day with a …
News: Markets treaded water on Tuesday. Most of the price action was sideways. The major indexes closed mixed and little changed. Near the opening bell, the NYSE experienced a major glitch that caused a host of “erroneous” trades. It’s being called a “technical issue.” Bulls paused their run to catch their breath. Selling was limited. …
News: Markets posted another day of significant gains on Monday. The major indexes closed at their highs. Again. And once again, “risk-on” Nasdaq led the way… It appears that sellers have lost momentum. Sector Round Up The 11 sectors were all green. At the top, the “risk-on” sectors… At the bottom… Technicals: The Nasdaq broke …
News: On Friday, Markets opened green and struggled to find a seller. The major indexes climbed throughout the day and closed at their highs. The “risk-on” Nasdaq led the way… There was no clear catalyst. But strong buying on a Friday shows the market has little fear of uncertainty. The first option’s expiration of the …
1/23/23 Flipping Sector Sentiment — Communication is In Read More »
News: Stocks fell for a second day on Wall Street. The U.S. government has officially reached its debt ceiling near $31.4 trillion. The Treasury Department is now deploying “extraordinary measures” to stave off a default. According to the Wall Street Journal, lawmakers have about five months until bondholders wouldn’t be paid. Stocks reached their low …
1/20/23 It’s Expiration Day: Default Looms & Wednesday Delivers Read More »
News: Markets opened green after the latest PPI numbers showed inflation cooling at its fastest rate since the pandemic began. The report showed prices were lower than expectations, fueling the case that on inflation, the worst is behind us. The market’s gains, however, were short-lived. In the end, the major indexes settled sharply lower.. Sector …
1/19/23 Heavy Metals, Inflation & Falling Resistance Read More »
News: Markets struggled to find a direction on Tuesday. In the end, the major indexes settle mostly flat. The notable outlier was the Dow Jones. The broader view was mixed. 46% of stocks rose while 50% declined. Sector Round Up The sectors reflected the market. 5 of 11 sectors ended the day in the green. …
