ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Stock Market Commentary: The latest cryptocurrency scandal and implosion distracted the market (and me) from the upside potential of the October CPI (Consumer Price Index) report. Likely contagion, real and psychological, from crashing crypto prices helped drive distraught trading that created technical breakdowns across the major indices. U.S. midterm elections on Tuesday also apparently failed … Read more
Stock Market Commentary: Market breadth was last this high 17 months ago. At that time, my favorite technical indicator was on its way down as a part of another buy-the-dip moment for the pandemic-inspired rally in the stock market. This time, market breadth is sitting right on top of the threshold of overbought conditions. The … Read more
Stock Market Commentary: Once again, Apple Inc (AAPL) became a poster child of market sentiment. When AAPL pulled away from resistance at its 50-day moving average (DMA) (the red line below), the move looked like a tease with bear market conditions still in force. Two weeks later, AAPL emerged vindicated as a 3.3% post-earnings gain … Read more
Stock Market Commentary: The stock market is delivering fertile ground for bear market green shoots. Market breadth in the form of AT50 (MMFI), the percentage of stocks trading above their respective 50-day moving averages (DMAs), closed at a one month high. Under the hood are individual stocks achieving convincing 50DMA breakouts and closing out primary … Read more
Stock Market Commentary: A little over a month ago, the prospects of a bottom for this bear market got me a little more interested in individual stocks. Unfortunately, the bear market rubble expanded shortly after that. Amid the rubble are crushed gems and false hopes. These stock charts follow up on my initial reads and … Read more