ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
“We are a very young country. What we’ve accomplished is miraculous… We have made progress. And we are a better society… You would think that with the level of prosperity that we have, we would do better taking care of people…We’ve been going in the right direction in the country, but it’s been awfully slow.” … Read more
Stock Market Statistics AT40 = 68.6% of stocks are trading above their respective 40-day moving averages (DMAs) (ending 2 days overbought)AT200 = 12.2% of stocks are trading above their respective 200DMAsVIX = 37.2Short-term Trading Call: neutral Stock Market Commentary The Federal Reserve’s last statement on monetary policy may go down as the short-term peak in … Read more
The Canadian Dollar After the Canadian dollar (USD/CAD) sold off in the wake of the Bank of Canada’s latest Monetary Policy Report (MPR), I doubled down on my bullish bet on the currency (short USD/CAD). That bet paid off as general weakness in the U.S. dollar took USD/CAD back down to its 50-day moving average … Read more
Stock Market Statistics AT40 = 82.6% of stocks are trading above their respective 40-day moving averages (DMAs) (first oversold day)AT200 = 17.7% of stocks are trading above their respective 200DMAsVIX = 31.2Short-term Trading Call: neutral Stock Market Commentary On Tuesday, AT40 (T2108), the percentage of stocks trading above their respective 40-day moving averages (DMAs), rallied … Read more
The Bitcoin Price Breakout Bitcoin (BTC/USD) wiped away my wariness about the price action with one clean breakout that finished a reversal of March’s steep losses. For about five days, Bitcoin was teasing its way toward a challenge of overhead resistance at its downtrending 200-day moving average (DMA). During the previous day, Bitcoin gained about … Read more