ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Maybe it is fear of the Fed, maybe it is the distraction of cryptocurrencies reaching for infinity. Whatever the issue, speculators in precious metals are in rapid retreat as net long contracts dropped to levels not seen in 4 to 5 months. Source: Oanda’s CFTC’s Commitments of Traders This decline represents the climax of October’s … Read more
Speculators have not been this bullish on the euro since at least 2008. Source: Oanda’s CFTC’s Commitments of Traders These charts reveal a distinct sentiment shift on the euro this year. Since 2008, speculators spent the majority of the time as firm euro bears. The new high in net long positioning going into 2018 signals … Read more
AT40 = 57.0% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 58.8% of stocks are trading above their respective 200DMAs VIX = 10.2 Short-term Trading Call: cautiously bullish Commentary The stock market is looking a little tired. The S&P 500 (SPY) closed at another all-time high on Tuesday and at … Read more
Less than a week ago, a disappointing GDP report helped to dampen enthusiasm for the Australian dollar (FXA) following a policy statement from the Reserve Bank of Australia (RBA). Now, the script has flipped after the Australian Bureau of Statistics reported a strong employment report for November, 2017. While the unemployment rate stayed at 5.4%, … Read more
The iPath Bloomberg Coffee SubTR ETN (JO) hit the fresh all-time low that I did not think would happen. Source: FreeStockCharts.com The proximate news was a report of surplus from the CoffeeNetwork as reported by Reuters (I could not find mention of this forecast on the group’s twitter or Facebook feeds). According to Reuters: “The … Read more