ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
My first warning on Bitcoin (BTCUSD) came when Bitcoin failed to push through overhead resistance from October’s brief and failed run-up (see the horizontal line above) despite the bullish case being made at the time about the breakout. The most convincing warning came when the cryptocurrency sold off with the stock market in late February. … Read more
AT40 = 2.7% of stocks are trading above their respective 40-day moving averages (DMAs) (16th oversold day)AT200 = 4.0% of stocks are trading above their respective 200DMAsVIX = 76.5Short-term Trading Call: bullish Stock Market Commentary The week started with another stomach churning loss with the S&P 500 (SPY) losing 12.0%. It was a day where … Read more
The grinding bear market in financial markets has quickly created what I am calling “A Culture of Collapse.” The collapse is on vivid display in the stocks of home builders and other related housing and construction stocks. I cataloged the collapse in housing-related stocks that took on dramatic form two days ago. The iShares Dow … Read more
It seems every week I need to generate new superlatives to describe the epic collapse in the stock market. For the housing-related stocks, forget animal spirits getting trampled. This time around the walls have all caved in on the sector. Today’s third crash during this sell-off in the stock market featured a complete collapse in … Read more
“Looking for one of the 4% of stocks still trading above their respective 200DMAs? Apple (AAPL) is one of those lucky few. If sellers break AAPL, I foresee two binary possibilities: 1) buyers will finally see enough bargains to go on a buying spree, or 2) buyers give up all hope and the resulting rush … Read more