News: Thursday’s release of the Producer Price Index (PPI) revealed a greater decline in prices from February to March than at any point during the last year. The year-over-year change was remarkably low, coming in at just +2.7%, only marginally higher than The Fed’s goal of +2%. Data from the US BLS The data release …
News: On Wednesday, the market digested two major news items… Markets sold both news items… SPY 5-Minute Candles – Chart by thinkorswim Immediately after the CPI report dropped, the market lurched higher … The pop was enough to keep the market from taking a significant tumble. At the close, all four major indexes were trading …
4/13/23 Selling the News & The Budge That Failed Read More »
News: Markets failed to pick a direction on Tuesday. It was a mixed day with a mixed close. Despite reports of a record number of short positions ahead of today’s CPI report, the price action was essentially muted. Chart by Bloomberg At the close, two of the four major indexes were trading in the green… …
News: Markets open lower on Monday after the long weekend. Major indexes were off as much as 1% in the minutes following the opening bell. Image from the NYSE Those ticks turned out to be the session lows. After the initial dip, markets climbed throughout the day. At the close, three of the four major …
News: On Thursday, ahead of the long weekend, markets opened in the red. Buyers pushed prices higher throughout the day. At the close, all four major indexes were higher… On Friday, the latest jobs report showed hiring slowed. Employers added just 236,000 new jobs, the lowest monthly addition in more than a year. Chart from …
4/10/23 Inflation & Earnings—April’s First Full Week Read More »
News: Markets failed to pick a true direction on Wednesday. The day had a bearish tilt as the Nasdaq logged a third consecutive day of losses. Image by BullMarketGifts The indexes held up better fairly well despite selling pressure. Here’s yesterday’s closing change… Under the surface, it was clear the bears had the advantage… 65% …
4/6/23 Are Markets Falling or Flying? Beyond the Headlines Read More »
News: Markets opened higher on Tuesday and showed clear signs of being overbought. As the trading session continued, selling pressure became too great for the bulls, and markets slipped into the red. At the close, all the indexes were modestly lower… Sector Round Up Some sectors managed to squeeze out gains despite the selling. At …
4/5/23 Overbought Pressure Relived, Jamie’s Warning Read More »
News: Before the opening bell on Monday, the markets got a surprise from OPEC+. Its members and Russia have “voluntarily” cut crude oil production by about 1.7 million barrels per day. That’s nearly 2% of the global supply. Image from Wikipedia According to a press release, the cuts are scheduled to stay in effect until …
News: The market ended Q1 of 2023 on a high note. On Friday, all the indexes finished the day sharply higher… Cooling inflation data led the positive day. The Fed-preferred inflation gauge, the PCE index, showed inflation rose 5.0% year-over-year. It marked a slowdown from 5.3% in the previous two months. Image by MyCustomer The …
