US stock markets ended an unimpressive session in positive territory and continue to consolidate their recent uplegs. The wide breadth of positive earnings and a better than expected GDP growth for Q1-2021 had little impact. In fact more signs of distribution selling appeared. Approximately 73% of today’s…
SP-500: Bullish reversal is in play and now it needs to overcome resistance @ 3984 to confirm legitimacy. 10-Yr Note Yield: Bullish reversal is indicating a resumption in rising rates. Bitcoin: Selling has ceased and another bullish reversal pattern has formed to establish a higher low on the recent pullback. This translates into continuation of the bullish trend.
Hopes of a stimulus jumpstarted stocks from yesterday’s losses but were dashed once it became apparent that its passage faces opposition from both sides of the ailse, albeit for different reasons. With Senate GOP leader McConnell…
Channeling the Fed’s latest sentiment was Atlanta’s Fed President Bostic, who openly acknowledged the limitations of its monetary tools and policies and emphasized the need for more relief in the form of fiscal policy to “aid the US economy”…
Even though Congress is “miles apart” on a stimulus agreement as House Speaker Pelosi aptly put it, investors are not abandoning faith or this high-tech momentum fueled rally as evidenced by today’s sharp rebound in technology stocks…
President Trump announced potential tax cuts on capital gains and income. However, admission from Senator Mitch McConnell that stimulus aid talks were at a stalemate quickly curbed investor enthusiasm…