ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
The stock market is oversold, so I am hunting for bullish setups in the charts. Apple (AAPL), the iShares MSCI Brazil Index Fund ETF (EWZ), and the iShares MSCI Australia Index Fund ETF (EWA) are a few of the charts that have caught my interest. Apple (AAPL) plunged through dual supports and bounced right back … Read more
(T2108 measures the percentage of stocks trading above their respective 40-day moving averages [DMAs]. To learn more about it, see my T2108 Resource Page.) T2108 Status: 19% and day #2 of the current oversold period. VIX Status: 23; the max intra-day high occurred on day #2 of the oversold period, 14% above the highs from … Read more
Sovereign Debt Crisis: Investors Bet on Prospect of 'Greek Accident' – Financial Times A new bet has been placed on the the Greek debt crisis. It backs a growing view among investors that Athens may be about to suffer a messy default that could spark a run on the country’s banks and a deeper euro … Read more
On June 15, Bank of England Governor Mervyn King spoke at the Lord Mayor’s Banquet for Bankers and Merchants of the City of London at the Mansion House. The speech covered very familiar themes for King and the Bank of England. King first acknowledged the squeeze on the economy in the United Kingdom: “The challenge … Read more
(T2108 measures the percentage of stocks trading above their respective 40-day moving averages [DMAs]. To learn more about it, see my T2108 Resource Page.) T2108 Status: 20% and oversold General (Short-term) Trading Call: Cover more shorts, add more longs Commentary T2108 plummeted to oversold territory. The indicator closed right at 20%. Since the March, 2009 … Read more