ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Checking the Google Trends Momentum Check The Google Trends Momentum Check (GTMC) continues to perform well as a signal for a bottom in downward price action for Bitcoin (BTC/USD). Even the brutal crypto winter has delivered two more examples of how this indicator works. As a reminder, the GTMC signals a potential bottom when (worldwide) … Read more
The landscape of inflation and monetary policy continues to change fast. The June inflation numbers disappointed expectations once again for peak inflation. A surprise 1% point rate hike by the Bank of Canada combined with this hot inflation accelerated the timeline for peak interest rates from the Federal Reserve. Instead of a 75 basis point … Read more
Stock Market Commentary The stock market failed its test of the summer of discontent. The bear market stayed true to its name and held firm at important resistance levels. This is a time to shift into neutral in deference to the unenthusiastic buying power and the overwhelming technicals. With earnings season underway and the continuing … Read more
That sigh of disappointment was Wall Street looking for signs of a weakening labor market in the June jobs report. Instead, that report showed job creation remains robust in the economy. Not only did the unemployment rate remain steady at a low 3.6% with the economy adding 372,000 jobs (far more than “consensus” expectations), the … Read more
Stock Market Commentary The major indices enjoyed important rebounds last week. Despite this summer of discontent, buyers managed to follow through on the previous week’s test of the oversold threshold. The gains are yet another testament to the opportunities in oversold trading conditions. The rebound was strong enough to push market breadth to new heights … Read more