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: Put all the headlines aside. Last week was all about the technicals. Picture-perfect support unfolded for the major indices and stopped bearish momentum dead in its tracks. Suddenly, the stock market went from the verge of confirming a short-term top from early February to looking ready to make a run at challenging … 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
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: What was resistance for over two months is slowly becoming support for the stock market. The bullish trading action of the last week created an important breakout that confirmed the bottoming action from the previous week’s bullish engulfing pattern. While the stock market may continue to chase its tail before fighting its … Read more
Stock Market Commentary: Extreme trading behavior finally appeared right after I insisted the stock market looked uninteresting despite dropping into oversold conditions. Oversold conditions did a stretch toward the year’s lows and created enough concern to finally send the volatility index soaring. Looming over the trading action all day was a collapse in the British … Read more