ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
“The Company’s cash, cash equivalents and restricted cash on hand is sufficient to fund the Company’s operations into December 2020 but not beyond.” This quote from the May 14 earnings report from Soliton (SOLY) is tattooed in my mind as I consider the implications of the company’s recent good news on cellulite treatment. On June … Read more
The U.S. dollar index (DXY) continues to pivot around its 200-day moving average (DMA). Last week, the U.S. dollar bounced before retesting the lows from March. The U.S. dollar now looks ready to challenge its 200DMA as resistance; it will likely complete another cycle by rallying at least to the previous highs above the 200DMA. … Read more
Stock Market Statistics AT40 = 74.1% of stocks are trading above their respective 40-day moving averages (DMAs) (first overbought day, 17 of last 19 trading days overbought)AT200 = 22.6% of stocks are trading above their respective 200DMAs VIX = 36.1 (down 11.5%)Short-term Trading Call: cautiously bullish Stock Market Commentary In the last Above the 40 … Read more
Given the mix of warning and promising signs in the stock market, I am more tuned than usual to collecting confirming signals or signs of invalidation. My radar perked up when I saw the potentially bearish chart pattern in Amazon.com (AMZN): the dreaded shooting star on June 10th. According to swingtradebot.com, a shooting star “is … Read more
Stock Market Statistics AT40 = 69.2% of stocks are trading above their respective 40-day moving averages (DMAs) (ending 16 days overbought)AT200 = 20.5% of stocks are trading above their respective 200DMAs VIX = 40.8 (up 48.0%)Short-term Trading Call: cautiously bullish Stock Market Commentary It was fun while it lasted. The Federal Reserve delivered its latest … Read more