ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
When U.S. Treasury Secretary Steve Mnuchin helped send the dollar careening with commentary welcoming a weak dollar, the British pound (FXB) surged enough against the then hapless U.S. dollar to make me speculate on GBP/USD reaching a blow-off top. GBP/USD did indeed pull back from that point, albeit in very choppy fashion, for almost a … Read more
AT40 = 65.8% of stocks are trading above their respective 40-day moving averages (DMAs) (hit a high at 69.7%) AT200 = 51.5% of stocks are trading above their respective 200DMAs VIX = 13.4 Short-term Trading Call: neutral Commentary The stock market keeps crossing up as headlines and macro events push the market one way and … Read more
AT40 = 64.6% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 51.5% of stocks are trading above their respective 200DMAs VIX = 13.4 Short-term Trading Call: neutral Commentary Looks like there was a good reason to wait on flipping my short-term trading call back to (cautiously) bearish. After pointing out … Read more
AT40 = 59.7% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 49.1% of stocks are trading above their respective 200DMAs VIX = 14.6 Short-term Trading Call: neutral Commentary Here we are again…again. In the last Above the 40 I observed “the stock market looks like it is breaking free, but … Read more
The Housing Market Index (HMI) for May increased to 70 and is just 4 points off its post-recession high set last December. Just don’t tell investors home builders are as confident as ever despite rising rates. Today, the yield on the 10-year U.S. Treasury bond soared to its highest level in 7 years and settled … Read more