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: In the previous week, the stock market put on a display of strength ahead of the Federal Reserve’s May decision on monetary policy. That bravado was temporarily undermined by the final blow to First Republic Bank (FRC). After a one-day pause, presumably to contemplate the implications of the lack of a coherent … Read more
Stock Market Commentary: Mid-week, fresh drama in crypto looked like the next pivot point for the stock market. Instead, the bout of selling turned into a forgettable speedbump. Buyers returned with force in Bitcoin (BTC/USD), and the major stock indices recovered from major technical breakdowns and tests. In recent weeks, the stock market has bounced … 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
The conditions for bottoming in the ARK funds started to diverge a bit in late June. While the bottoming patterns differed, the ARK bottom synchronized with the general market’s bottom. Those conditions were born from the deeply oversold conditions that arrived in June. At that time, I interpreted the turmoil as the early days of … Read more
Checking the Google Trends Momentum Check The Google Trends Momentum Check (GTMC) continues to perform well as a signal for a bottom in downward price action for Bitcoin (BTC/USD). Even the brutal crypto winter has delivered two more examples of how this indicator works. As a reminder, the GTMC signals a potential bottom when (worldwide) … Read more