Markets Inch Lower Then Saved By Dollar, Again
The markets sold off early in the session today as volume was decent. By 11:00am ET, the volume began to dry up which usually helps the markets float higher. The SPDR S&P 500 ETF (NYSE:SPY) is lower by just $0.11 at $114.56. In addition, the U.S. Dollar began to inch lower which also props the markets up. This propping of the market has become the norm of late and should continue to be expected as long as the markets continue to have light volume. The thought process is the propping is done by the Federal Reserve as they have the ability to print money thus lower the Dollar. In addition, the Federal Reserve is conducting POMO (Permanent Open Market Operations). Through a round about method, propping the markets up by buying equities. There had been a lot of talk that this has been going on with the top Nasdaq 100 stocks. Stocks like Apple Inc. (NASDAQ:AAPL) and Amazon.com, Inc. (NASDAQ:AMZN) among others. To gain more insight, analysis, guidance and swing trades, join the Research Center.
Chief Market Strategist