ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
T2107, the percentage of stocks trading above their respective 200-day moving averages has been in decline since reaching a quick post-recession peak in late 2009. It is one sign that fewer and fewer strong stocks are supporting the overall stock market. So when the indicator takes a fresh plunge to the downside, I sit up … Read more
The recent batch of internet IPOs are collectively running into hard times these days despite the imminent introduction of Facebook (FB) to the public markets. On April 9, I noted a likely blow-off top in Yelp.com (YELP). Friday’s break of critical support all but confirms the top. I have updated the chart with the new … Read more
Apple (AAPL) has had a rough five days. The stock has sold off for five straight days on very high selling volume with losses increasing the last two days. The 9.7% loss pales in comparison to the year-to-date 43% gains. However, this recent selling is just as ominous as the last topping pattern Apple printed … Read more
Almost a month ago I made another case for a bottom in TBT, the ProShares UltraShort 20+ Year Treasury. The related breakout include some large, upward one-day moves. The churn included a convincingly successful retest of presumed support at the upper channel that formed the consolidation pattern for TBT’s bottom. Alas, that was not enough … Read more
(T2108 measures the percentage of stocks trading above their respective 40-day moving averages [DMAs]. To learn more about it, see my T2108 Resource Page. You can follow real-time T2108 commentary on twitter using the #T2108 hashtag. T2108-related trades and other trades are posted on twitter using the #120trade hashtag) T2108 Status: 44% VIX Status: 16.4% … Read more