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: 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 overcame a serious setback with an impressive rebound. The rally started before Jay Powell announced the Federal Reserve’s latest decision on monetary policy and pushed higher afterward. The market seemed determine to launch as the opening gap up immediately erased the previous day’s loss. Buyers never looked back and … Read more
The landscape of inflation and monetary policy continues to change fast. The June inflation numbers disappointed expectations once again for peak inflation. A surprise 1% point rate hike by the Bank of Canada combined with this hot inflation accelerated the timeline for peak interest rates from the Federal Reserve. Instead of a 75 basis point … Read more
That sigh of disappointment was Wall Street looking for signs of a weakening labor market in the June jobs report. Instead, that report showed job creation remains robust in the economy. Not only did the unemployment rate remain steady at a low 3.6% with the economy adding 372,000 jobs (far more than “consensus” expectations), the … Read more
After presenting my conditions for bottoming across the collection of ARK funds, the funds suffered a serious setback in the bottoming process. Some funds hit new lows and others cracked critical support levels. The stock market’s rebound from oversold conditions helped turn the tide and sentiment on the ARK funds. Interestingly, performance relative to key … Read more