ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
This post is a quick addendum to the Above the 40 post I published just ahead of a complete freefall in global financial markets. At the time of writing, futures are showing a 5% drop in the S&P 500 (SPY)! The crash is reflected in real-time in the currency markets. I actively watch the Australian … Read more
If there were ever a time for Bitcoin (BTCUSD) to soar, the Coronavirus-inspired sell-off in global financial markets should be that time. The cryptocurrency increased 6.7% this week, but that gain did not even finish reversing the last big down day on February 26th when the U.S. stock market dropped into oversold territory. BTCUSD is … Read more
AT40 = 7.0% of stocks are trading above their respective 40-day moving averages (DMAs) (oversold day #3, dropped as low as 5.1%)AT200 = 21.4% of stocks are trading above their respective 200DMAs (13-month low, dropped as low as 17.8%)VIX = 40.1 (was as high as 49.5%)Short-term Trading Call: bullish Stock Market Commentary Oversold I had … Read more
Fed to the Rescue If you are sitting at home wringing your hands about catching a virus from the outside world, I am guessing you are not exactly relieved to hear that the U.S. Federal Reserve may try to come to your rescue with more rate cuts. Yet, easy money is what central banks know … Read more
AT40 = 9.2% of stocks are trading above their respective 40-day moving averages (DMAs) (oversold day #2)AT200 = 26.8% of stocks are trading above their respective 200DMAs (near 13-month low)VIX = 39.2 (up 42.1%)Short-term Trading Call: bullish Stock Market Commentary Oversold The stock market is only into its second oversold day, but the technical extreme … Read more