Here’s a look at futures, and a another look at the volatility in the markets yesterday, geopolitical events, and European stocks overnight.
Here is a look at the pre-market, and are you feeling the index angst, more unfortunate news from Gaza, Russian sanctions, and more.
The Volatility Index (VIX) was up about a percent today and had been as high as 12.47 earlier in the session. It did manage a third consecutive close above its 50 day moving average and a downtrend line drawn off the May/June highs. While the last three candles are not impressive in and of themselves,… Read More »
The social media and biotech stocks did not like the mention by Chair Yellen during her testimony today. The Global X Social Media Index Fund (SOCL) is down nearly 2%, and the Biotech iShares (IBB) is down 2.3%, at this point in the session. Both funds are approaching minor areas of support, but a snapback… Read More »
About $100 billion has been added to equity mutual funds and exchange-traded funds in the past year, 10 times more than the previous 12 months, according to data compiled by Bloomberg and the Investment Company Institute. Read more here.
Yesterday, I looked at the major averages in “Pullback or Bounce Back,” and asked the question: “Is the RUT leading the way and the rest of the major indices set to fail and follow, or will the potential for a bounce be realized and the uptrend in the broader market resume? These levels and the… Read More »
On Monday I noted that the Europe iShares were about to test important levels of technical support. That test failed and the European markets are headed lower again today, as the banking issue in Portugal plays out. Here’s an update of the chart that includes new levels of trend line support and the 200 day… Read More »
The Russell 2000 (RUT) and the NASDAQ (COMP) took a hit yesterday down 1.2% and 1.4% respectively, while the Dow (DJIA) and the S&P 500 (SPX) both saw more modest 0.70% losses. At the low point in the session, with the VIX above 12.5, there was a scent of fear in the markets, but the… Read More »