ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
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
Stock Market Commentary: Yesterday’s surge in the Japanese yen (FXY) may have exhausted enough sellers to clear the path for some holiday cheer in the stock market. Suddenly, the market seemed to transition from the heavy burdens of a stubbornly hawkish Fed to the alluring hopes from a lack of (scheduled) negative catalysts for the … Read more
Stock Market Commentary: A week ago, I cautioned that “the tenuous positioning is further weakened by a breakout of volatility and significant deterioration in the market breadth indicators.” The November CPI report showed the slightest surprise possible and faked out the stock market on the way to another hawkish statement from the Federal Reserve on … Read more
Stock Market Commentary: I expressed my surprise after the stock market soared in response to Fed Chair Jerome Powell’s inflation-fighting speech. I thought Powell simply reiterated known information with more reminders of the Fed’s inflation-fighting commitment. Since then, two strong economic reports in a row have sent the stock market into rapid retreat from that … Read more
Stock Market Commentary: Social unrest from fresh COVID lockdowns in China are already a distant memory for the U.S. stock market. Just as quickly as the stock market bearishly failed once again to hold overbought trading conditions, market breadth flipped the script to surge and rush back to overbought. Buyers and bulls celebrated a speech … Read more