U.S. markets showed strength on Monday’s open after President Trump said he spoke on the phone with Chinese President Xi Jinping and that trade negotiations were moving along very well as they made big progress toward cutting a deal. The developments were short-lived as the market turned choppy while giving back the majority of the gains by midday. Another rebound rally ensued afterwards...
Continue reading >>U.S. markets were choppy throughout Friday’s action but traded in a much tighter trading range while closing mixed. The major indexes closed higher for the week for the first time since the end of November but are still down sharply for the month. The ongoing government shutdown is likely to stretch into January after no progress toward a deal over wall funding was reached. Additionally,...
Continue reading >>U.S. markets continued a whipsaw week after trading in and out of positive throughout the session. The late day rebound off the intraday lows was a slightly bullish signal as the major indexes closed higher for the 2nd-straight session. Debate continues whether this is a true measure of sentiment between the holidays or a buying opportunity into the correction. However, this won't be known...
Continue reading >>U.S. markets were volatile on Wednesday after opening sharply higher following the worst ever Christmas Eve for stocks. The gains were short lived as the major indexes turned negative within 30 minutes of trading. It appeared the selling pressure would lead to another rout, but buyers stepped up as the market tries to find a near-term bottom. Volatility stayed slightly elevated despite...
Continue reading >>U.S. markets closed sharply lower Friday, as Wall Street braced for a partial government shutdown and slowing global growth. The losses punctuated five days of selling pressure with fresh 52-week and multi-year lows now in focus.The Dow joined the other major indexes after officially forming a death-cross and has followed the Transports lower as the two tend to trade in...
Continue reading >>
South Korea-based cryptocurrency exchange Bithumb has denied allegations of faking trade volume, Forbes reported on Dec. 19. Cryptocurrency exchange ratings and analytics service CER has accused Bithumb of faking up to 94 percent of its trade volume since the late summer of 2018. In response to the accusations, Bithumb reportedly told Forbes that "Bithumb is doing nothing to inflate trade...
Continue reading >>