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 stock market leaned into a melt-up as a constant stream of IPOs signaled risk-on appetite even as a massive downward revisions in jobs in the 12 months through March, 2025 implied more than expected economic weakness ahead. Rate cuts beckon as a result of this broadening weakness, and Wall Street has … Read more
Stock Market Commentary Last week delivered one of the most bullish one-day expansions of market breadth I have ever seen. On Friday, August 22nd, Federal Reserve Chair Jerome Powell spoke at the Jackson Hole confab and gave financial markets sufficiently dovish signals to reignite a rally that had waned most of the week. Big cap … Read more
Stock Market Commentary The market staged a quick rebound this week after the “bears break-in” two Fridays ago. Most losses reversed by Monday’s close as buyers stepped in with conviction and quickly repaired the indices. However, the bounce masked the on-going failure of market breadth to keep pace with the S&P 500 and the NASDAQ, … Read more
Stock Market Commentary Finally the bears break in on all the fun the bulls have had for months. The stock market got overwhelmed with a flood of bad news that was just too difficult to ignore or look through (for now). The July jobs report was not just weak but also it included a massive … Read more
Stock Market Commentary The week closed with strong speculative energy, particularly in crypto, with the signing of a package of crypto legislation including a stablecoin bill. Surprisingly, the speculative frenzy did not translate into the overall stock market beyond a few select stocks like OpenDoor (OPEN). In fact, the major indices mainly had a steady … Read more