Markets Bouncing All Over - Tweet by Tweet
Never before in the history of the markets have they experienced so much daily volatility based upon social media. One Trump Tweet (TT) is all it takes to start a rally or a washout.
This morning the market was up over 225 points but it could not hold with the Dow ending165 points in the red (-.68%) and ending the day below their 200-day moving average.
The S&P 500 fell 23 points (-0.86%). It ended the day below its 50-day average. A 2.4% drop in semis helped make technology the day's biggest loser (1.3%). Nine out of eleven sectors lost ground today. The only winners were energy and utilities. We ended a traditionally bearish period on Monday but markets remained bearish. Continued trade threats have spiked the VIX.