ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
General Motors (GM) and Amazon.com (AMZN), fascinating partners in anything, are reportedly going to co-invest in electric pickup truck company Rivian. The company has toiled away since its founding 2009. This rumor/news comes on the heels of Rivian’s big reveal late last year and likely confirms that the company is close to getting product into … Read more
I guess all that corn syrup is weighing down Molson Coors (TAP). I did not have a chance to follow-up on my positive technical outlook on TAP because a poor earnings response took the stock down today by a whopping 9.4%. The stock gapped down below support at both its 50 and 200-day moving averages … Read more
After reading the February 6th Address to the National Press Club of Australia by Philip Lowe, Governor of the Reserve Bank of Australia (RBA), I am not so sure the market “got it right.” The following statement alone was used to suggest that the RBA might cut rates in the near future: “Looking forward, there … Read more
AT40 = 78.7% of stocks are trading above their respective 40-day moving averages (DMAs) (11th overbought day)AT200 = 35.3% of stocks are trading above their respective 200DMAsVIX = 15.7Short-term Trading Call: neutral Commentary In my last Above the 40 post, I noted the “convenience” test of 200DMA resistance for major indices. The S&P 500 and … Read more
AT40 = 84.7% of stocks are trading above their respective 40-day moving averages (DMAs) (9th overbought day)AT200 = 37.1% of stocks are trading above their respective 200DMAs (3-month high)VIX = 15.4Short-term Trading Call: neutral Commentary In my last Above the 40 post, I described the contours of this overbought market in the context of the … Read more