ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
AT40 = 49.5% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 55.6% of stocks are trading above their respective 200DMAs VIX = 10.4 (volatility index) Short-term Trading Call: cautiously bullish Commentary Here we go again. Last week, the S&P 500 slipped but did not fall off the edge. In my … Read more
I clearly took profits on my relief rally trade in iShares Silver Trust (SLV) too early. Source: FreeStockCharts.com While SLV wrestles with resistance at its 50-day moving average (DMA), the silver ETF sits on top of a 7.3% gain since hitting a 15-month low three weeks ago. Given SLV was able to power through the … Read more
AT40 = 63.6% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 60.3% of stocks are trading above their respective 200DMAs VIX = 9.6 (volatility index) Short-term Trading Call: cautiously bullish Commentary The stock market had a relatively bland day that matched a relatively bland statement on monetary policy from the … Read more
AT40 = 64.0% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 60.4% of stocks are trading above their respective 200DMAs VIX = 9.4 (volatility index) (2nd lowest VIX since at least 1990!) Short-term Trading Call: cautiously bullish Commentary The S&P 500 (SPY) is soaring high since its impressive breakout two … Read more
Over two weeks ago I officially ended my bearishness on the Australian dollar (FXA). I made that call just in time. Source: FreeStockCharts.com The Australian dollar has powered higher against almost all major currencies and now threatens to retard the economy’s on-going adjustment away from mining investment. The Reserve Bank of Australia has consistently noted … Read more
A year ago, speculators accumulated net long contracts on gold that exceeded anything seen since at least 2008. Starting in late 2015, silver speculators set several such records with the latest set just three months ago. Now, speculators in gold and silver are in full retreat. Net longs seem headed for zero for both precious … Read more
AT40 = 54.6% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 56.5% of stocks are trading above their respective 200DMAs VIX = 11.2 (10.8% drop) (volatility index) Short-term Trading Call: neutral Commentary Source: Giphy There are all sorts of nicknames possible for a churning market. In this edition of “Above … Read more
AT40 = 57.2% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 57.6% of stocks are trading above their respective 200DMAs VIX = 11.2 (volatility index) Short-term Trading Call: cautiously bullish Commentary The cats were particularly frenetic in the last week of trading for the second quarter of 2017. The major … Read more
One by one Trump Trades have unwound and completely reversed all their gains (or losses) since the U.S. Presidential election last November. I find the end of this particular Trump Trade particularly thematic. On June 21, 2017, the VanEck Vectors Russia ETF (RSX) completed a full reversal of its gain since the election of Donald … Read more
AT40 = 56.7% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 57.5% of stocks are trading above their respective 200DMAs VIX = 10.4 (volatility index) Short-term Trading Call: cautiously bullish Commentary The Federal Reserve gave the permission to the stock market that I awaited…well, sort of. On Wednesday, June 14, … Read more