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 crash in March was stomach-churning and generated a lot of panic. At its lowest point, the S&P 500 (SPY) was down 33.9% from its all-time high set just the previous month. The rebound from that stock market sell-off has been heroic with a 32.1% gain taking the index within another 14.6% rally … Read more
Stock Market Statistics AT40 = 56.6% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 14.5% of stocks are trading above their respective 200DMAsVIX = 31.9Short-term Trading Call: neutral Stock Market Commentary The week began with sellers finally drawing a line in the sand. The week ended with a counter from … Read more
Technically Speaking “…the most technical trade in almost any instrument has got to be Telsa stock….Investors love the company…there are some long-term and substantial holders…who are not inclined to sell…” – Michael Khouw, CNBC, May 8, 2020 The technicals are the main way I have come to understand and appreciate Tesla (TSLA). Once again, the … Read more
AT40 = 21.5% of stocks are trading above their respective 40-day moving averages (DMAs) (2nd day outside oversold conditions)AT200 = 10.1% of stocks are trading above their respective 200DMAsVIX = 40.8Short-term Trading Call: cautiously bullish Stock Market Commentary “Swift and sweeping fiscal and monetary policy responses from U.S. officials will ultimately support stock prices from … Read more
AT40 = 2.5% of stocks are trading above their respective 40-day moving averages (DMAs) (20th oversold day)AT200 = 3.7% of stocks are trading above their respective 200DMAs (new low for the oversold period)VIX = 61.7Short-term Trading Call: bullish Stock Market Commentary The week did not start as I feared with a 5th circuit breaker shut-down … Read more