ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Last week, I wrote about how economic data overrode the apparent desire of the Bank of Canada (BoC) to apply brakes to the strength of the Canadian dollar (FXC). Friday’s jobs report all but sealed the deal on the bullish case for the Canadian dollar and makes it more likely that the BoC will be … Read more
AT40 = 65.7% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 63.2% of stocks are trading above their respective 200DMAs VIX = 9.2 (was as low as 8.9) Short-term Trading Call: cautiously bullish Commentary The S&P 500 (SPY) burst higher yet again and spent most of the day at or … Read more
The raging bull market has helped facilitate instant excitement any time a company announces a cryptocurrency-related project or product. Xunlei Limited (XNET) is one of several companies that have enjoyed such a boost. XNET soared from just over $4 to $25 in less than two months on the heels of crypto-news. Source for charts: FreeStockCharts.com … Read more
The Canadian dollar (FXC) is at an interesting juncture. Strong economic data has strengthened the currency but the Bank of Canada (BoC) has applied brakes on currency’s rally. The Canadian dollar weakened in the wake of policy statements in October and December. The last word of 2017 went to the economic data as hot inflation … Read more
The reports on U.S. holiday shopping are coming fast and furious. The early tally looks quite bullish, and retail stocks responded. The SPDR S&P Retail ETF (XRT) jumped 1.1% today to a new high for the year. Surprisingly, trading volume of 3.7M shares remained well below the 90-day moving average of 5.0M. Source: FreeStockCharts.com Reuters … Read more
AT40 = 57.0% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 58.8% of stocks are trading above their respective 200DMAs VIX = 10.2 Short-term Trading Call: cautiously bullish Commentary The stock market is looking a little tired. The S&P 500 (SPY) closed at another all-time high on Tuesday and at … Read more
The last Housing Market Review covered data reported in October, 2017 for September, 2017. At the time, I lamented having too small an exposure to home builders while the entire sector rallied nearly non-stop. I was counting on seasonal patterns to deliver at least one buyable dip ahead of the seasonally strong period starting in … Read more
AT40 = 59.8% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 59.1% of stocks are trading above their respective 200DMAs VIX = 10.7 Short-term Trading Call: cautiously bullish Commentary “Time is ticking away for the bears and sellers as the period between Thanksgiving and Christmas is typically a very mild, … Read more
AT40 = 47.9% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 54.6% of stocks are trading above their respective 200DMAs VIX = 11.4 Short-term Trading Call: cautiously bullish Commentary The S&P 500 (SPY) failed to follow-through on Thursday’s snapback rally, but a bullish divergence kept the short-term prospects looking good. … Read more
AT40 = 45.8% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 53.8% of stocks are trading above their respective 200DMAs VIX = 11.8 (10.4% loss) Short-term Trading Call: cautiously bullish Commentary It was one of THOSE days for anyone or anything standing in the way of the buyers. Source: Twitter … Read more