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 One hundred and fifty minutes. The bearish signal that hit the stock market after the last overbought period ended essentially lasted just 150 minutes. Buyers stepped into the market on Monday after lunchtime on the East Coast and essentially barely took a pause until the last 2 hours of trading today (Wednesday, … Read more
Stock Market Commentary The extended overbought period still looks tenuous. For the second trading day in a row, AT40 (T2108), the percentage of stocks trading above their respective 40-day moving averages (DMAs), broke down below the overbought threshold of 70% before closing at 73.0%. The major indices do not reveal these weakening overbought conditions. The … Read more
My first “test” trade on Ethereum (ETH/USD) succeeded. I took profits on ETH/USD as it faded from $700 and a 2 1/2 year high. I wanted to hold on, but the clincher triggered with Bitcoin (BTC/USD) fading sharply from its latest all-time high. The fade appeared to signal the beginning of the end of this … Read more
U.S. traders and investors often but into or at least largely ignore news of anti-trust actions against publicly traded companies. Alibaba Group Holdings (BABA) was not as fortunate at least for today. Alibaba stock plunged as much as 17.5% before closing with a 13.3% loss in the wake of news that the State Administration for … Read more
Bitcoin Sentiment Riding High The Google Trend Momentum Check (GTMC) is staring down another test with Bitcoin (BTC/USD). A run-up in Google search interest in Bitcoin accompanied the run-up of Bitcoin to all-time highs. Google search interest is a proxy for sentiment. Accordingly, Bitcoin sentiment is running at extremes relative to recent levels. Per the … Read more