ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Almost three years ago, I seized on an opportunity to buy iPath Bloomberg Cocoa SubTR ETN (NIB) after it sold off steeply from a strong 2015. In that year, cocoa ripped ahead of the rest of the commodity space which declined 19% in 2015 while cocoa rallied 10%. In 2018, cocoa was another strong performer. CNBC … Read more
AT40 = 48.0% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 54.7% of stocks are trading above their respective 200DMAs VIX = 11.8 Short-term Trading Call: neutral (downgrade from cautiously bullish) Commentary I am not even going to try to explain why emerging markets and trade-sensitive stocks started this week … Read more
AT40 = 60.5% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 58.2% of stocks are trading above their respective 200DMAs VIX = 12.0 Short-term Trading Call: neutral Commentary Last week the stock market made history by delivering the longest bull market in history. Tonight on Nightly Business Report, markets are … Read more
AT40 = 55.4% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 56.7% of stocks are trading above their respective 200DMAs VIX = 12.6 Short-term Trading Call: neutral Commentary The recovery from the February swoon has been full of nearly predictable bounces: whether it was oversold trading conditions or support at … Read more
The price of cocoa has been in near freefall again. The picture-perfect bounce for iPath Bloomberg Cocoa SubTR ETN (NIB) from its support at 200-day moving average (DMA) reversed into a recent 200DMA breakdown and a convincing breakdown below the June low. Source: FreeStockCharts.com As usual, a flurry of news exists that helps explain at … Read more