ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
AT40 = 44.9% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 48.9% of stocks are trading above their respective 200DMAs VIX = 12.1 (up 4.9%) Short-term Trading Call: neutral Commentary The market has made no progress since my last Above the 40 post which covered the volatility and fizzle from … Read more
A little over a week ago, I explained why I put the Mexican peso and the Canadian dollar (FXC) on shorter leashes. Canada’s extremely strong second quarter GDP report at the end of August just loosened that leash a little. Statistics Canada reported 2Q real GDP growth of 1.1%. The annualized growth rate of 4.5% … Read more
AT40 = 37.1% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 46.7% of stocks are trading above their respective 200DMAs VIX = 11.7 (was as high as 14.3) Short-term Trading Call: neutral Commentary North Korea launched a ballistic missile over northern Japan, bot no fire and fury ensued. What happened … Read more
The Turkish lira was one of the biggest beneficiaries of the renewed weakness of the U.S. dollar (DXY0) in the wake of Jackson Hole on Friday. USD/TRY closed at a new low for 2017. In fact, USD/TRY has not traded this low since early December, 2016. The daily chart above shows how USD/TRY has trended … Read more
Currency speculators have not been this bullish on the Mexican peso in about four years. The Canadian dollar (FXC) has enjoyed such bullishness for a year longer. Source for charts: Oanda’s CFTC’s Commitments of Traders I have traded alongside these bulls for several months now, but I decided this week to pull in the reins … Read more