ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
AT40 = 45.5% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 55.3% of stocks are trading above their respective 200DMAs VIX = 18.2Short-term Trading Call: cautiously bearish Stock Market Commentary I am so accustomed to the stock market’s resilience that I am already looking ahead to the rebound scenarios from … Read more
AT40 = 52.2% of stocks are trading above their respective 40-day moving averages (DMAs)AT200 = 58.2% of stocks are trading above their respective 200DMAs VIX = 14.6Short-term Trading Call: neutral Stock Market Commentary The stock market finally pushed into overbought territory on Thursday, January 16th. The breakout quickly turned into a bust with AT40 (T2108), … Read more
Tesla (TSLA) has been on a tear. Analyst Expectations Analysts have stumbled over themselves to hike price targets: Canaccord Genuity from $375 to $515, Piper Sandler from $423 to $553, Oppenheimer from $385 to $612, and Jeffries from $400 to $600. At least three analysts have staunchly defended their bearishness: Credit Suisse reluctantly hiked its … Read more
Suddenly, the persistent selling in Autozone (AZO) despite the stock market’s rally makes sense. I just finished marveling at the way sellers took over in AZO after the stock experienced an impressive 6.9% post-earnings gain to a fresh all-time high. A downgrade from Wedbush suddenly put the selling in perspective. Now the chart looks like … Read more
AT40 = 63.5% of stocks are trading above their respective 40-day moving averages (DMAs)AT200 = 60.3% of stocks are trading above their respective 200DMAsVIX = 14.0Short-term Trading Call: neutral Stock Market Commentary The stock market started the new decade with wild swings. After starting the first trading day of the decade with a 0.8% gain … Read more