Tag: SPY ChartsSort
Over the last month, despite European debt concerns, and not so hot job reports the SPY has seem to have found a bullish stride. Please do not mistake me for being overly bullish because there is still much in the way uncertainty that is overshadowing this market.
The news this week will be mostly about earnings. Alcoa announces after hours today and then some big names come later in the week like JP Morgan Wells Fargo, and IBM. Earnings should be ...
Today it was the U.S. good news that one the day. The SPY and the market as a whole rose on good housing data and absence of an substantial news from Europe. Light volume the last few days is an indication that a holiday is around the corner. That should entice the markets higher in a continuing of the rally we have seen the last few days.
The worry is still Europe and....
For those of you who believed when Spain's banks were bailed out and Greece elected the right party, that we would see a sigh of relief from the markets forget about it. The worry continues and the stability of Europe continues to be theme the market is marching to. It does not matter that housing sales are at a 2 year high in the US. None of the positive economic news is enough to remove the problems that Europe is currently weighed down with.
Market Rises on Rumors of Coordinated Central Bank Action
I was pretty pessimistic yesterday going into today. The sell-off at the end of yesterday, and economic and global news most likely was not going to be good, and it wasn't. Jobless claims rose 6000 from 380,000 to 386,000. The prospect that Greece could still leave the Eurozone this weekend is 50/50, and Italian bond yields climbed. How did the market react? It climbed.