ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
It was just this past weekend when I laid out my latest strategy trading Apple (AAPL) pre-earnings including updated historical data. Much to my surprise, my calendar call spread closed out at its pre-earnings profit target as AAPL followed through on Tuesday from Monday’s big 2.3% rebound. (As a reminder, my ideal scenario featured the … Read more
AT40 = 68.0% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 55.1% of stocks are trading above their respective 200DMAs (essentially matches the 2019 high and is a new 10-month high)VIX = 13.3Short-term Trading Call: neutral (caveats below) Stock Market Commentary Good news is bad news….oops, nevermind The search for … Read more
Housing Market Intro/Summary After writing the last Housing Market Review, I was convinced a triple top had appeared in the iShares US Home Construction ETF (ITB). The May sell-off in the stock market pushed ITB into a breakdown below its 50-day moving average (DMA). Immediately after that post, ITB rebounded right through its 50DMA and … Read more
AT40 = 53.7% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 50.3% of stocks are trading above their respective 200DMAsVIX = 15.4Short-term Trading Call: neutral Stock Market Commentary The stock market is officially in bizarro world. The stock market is breathlessly rallying in anticipation of rate cuts that will come … Read more
AT40 = 38.9% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 44.8% of stocks are trading above their respective 200DMAsVIX = 18.9Short-term Trading Call: cautiously bullish Stock Market Commentary From opening at the edge of oversold trading conditions to closing on near panic buying, last week was a wild week! … Read more