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: Unlike the prior week, last week was all about the fundamentals, and the fundamentals made a huge difference. After failing to break through picture-perfect resistance levels, especially the 20-day moving averages (DMAs) (the dotted lines in the charts below), the indices were left vulnerable to selling pressure. The pressure started with Federal … Read more
Stock Market Commentary: The last bullish run in the stock market came to an abrupt end. The day started on a positive note, but trading went awry after a mix of relatively unsurprising economic news releases and Fedspeak. News that the Justice Department would announce an international enforcement action against a cryptocurrency entity seemed to … Read more
With the power change in the U.S. House of Representatives, 2023 will be another year of drama over the U.S.’s debt ceiling. Treasury Secretary Janet Yellen recently brought the looming debt drama to the forefront of economic headlines by delivering the obligatory warning about the risk of default if Congress does not increase the debt … Read more
I will remember 2022 as the year of rolling crypto crises. One disaster after another undermined confidence in the ecosystem and forced changes in the bullish narratives for crypto. Through it all, the Google Trends Momentum Check (GTMC) stepped up to the test as a technical signal for short-term bottoms in Bitcoin. These crises did … Read more
Checking the Google Trends Momentum Check The Google Trends Momentum Check (GTMC) continues to perform well as a signal for a bottom in downward price action for Bitcoin (BTC/USD). Even the brutal crypto winter has delivered two more examples of how this indicator works. As a reminder, the GTMC signals a potential bottom when (worldwide) … Read more