ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
The recovery from the post-earnings dip in July is officially complete for Apple (AAPL). On Monday, August 6th, AAPL broke out from a short trading range defined at the bottom by the psychologically important $600 level and at the top by the April post-earnings high. This breakout symbolizes the neutralization of whatever worries prevented buyers … Read more
The Australian dollar is now at 4-month highs versus the U.S. dollar (FXA). In what now looks like a clean breakout, the AUD/USD currency pair has hurdled over the latest resistance level which was the April high. Source: FreeStockCharts.com While I continue to believe the Australian dollar has a big sell-off ahead of it once … Read more
(This is an addendum to the last T2108 Update that presented the case for an imminent, extended, overbought rally for the S&P 500). On Friday, July 27, the S&P 500 broke out in a rally that continues in grinding fashion from the June lows. In parallel, the Australian dollar (FXA) has also rallied from its … Read more
On July 23, Starbucks (SBUX) tested its 200-day moving average (DMA) for the first time since last October. This support held as the general stock market rallied into the close. This level also happened to coincide with SBUX’s breakout in March as SBUX moved on to fresh all-time highs. Source: FreeStockCharts.com If SBUX fails to … Read more
The trading action in forex is starting to pick up again with quickly changing setups. Of the many twists, the Australian dollar (FXA) continues to capture a lot of my attention. Currently, the Aussie looks ready to break out against the U.S. dollar. Source: FreeStockCharts.com AUD/USD is now positive again for the year, and, at … Read more