The major indices finally gave in to the bad economic data out there and the probable failure of the automobile industry bailout bill in the Senate. If the recent gains that have occurred in the market are due to the belief that congress would pass the auto bill and it looks as though it won’t
Tag: PPI
Despite a few nice gainers this past week, the major indices still turned in a losing week. The Dow lost -2.2%, the Nasdaq lost -1.7%, and the S&P 500 lost -2.3%. Most of this weekly loss can be attributed to Monday’s loss. What’s most surprising is that as the week wore on, and the bad
OK then, looks like we have a change in the scenario as the major indices decided to climb higher today in the last hour of trading. Actually the broader index ($SPY) bounced off of the lows that we had just tested last Thursday. That makes the fourth successful test of that support and the volume
There are a few good catalysts this week in the form of the Producer Price Index (PPI) on Tuesday and the Consumer Price Index (CPI) on Wednesday. Both of these numbers can move the market and if they both agree in sentiment, it could propel the market outside of the recent trading range. With nothing
The bulls will argue that of the record gains yesterday, today’s lower close is just a rest stop before another surge higher. Take a look at the breadth chart below and you can see that it was a battle today and the bulls did hold their own for the most part. However, the bears suggest
Anyway you look at it, 6 or ½ dozen, the equities markets have crashed. With two and a half months left in 2008 there is an uphill battle to just get back to even. Just this past week the DJIA lost 18.2%, the Nasdaq lost 15.3% and the S&P 500 lost 18.2%. The yearly losses
Is the FOMC Santa or the Grinch?
Since the S&P 500 hit its high off the March lows on November 16th it has done nothing but consolidate in a tight range. Take a look at the chart below and you can see that the range is indeed narrow but what’s more important is that the volatility is at some extreme lows. This