ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
The Market Breadth Summary The Stock Market Summary I have been making the case for months that the AI trade is topping. This last week’s price action added yet more confirmation. While the NASDAQ dropped 2% for the week, nine of the eleven S&P 500 sectors finished higher, led by healthcare, materials, and utilities. That … Read more
The Market Breadth Summary The Stock Market Summary The stock market finds itself in a place I did not fully anticipate, even as recently as my last market check-in. Market breadth is rebounding as I suspected it might, and the recovery increasingly looks like a bottoming process. Yet the recovery is leaving behind the once-dominant … Read more
The Market Breadth Summary The Stock Market Summary Damage from the AI trade drove the NASDAQ to its worst weekly decline since June. A convergence of events and headlines has brought the market to another critical juncture, this time in the last of the stock market’s most dangerous months of the year. The renewed tech … Read more
The Market Breadth Summary The Stock Market Summary The stock market tentatively moved away from oversold’s edge. While small caps clung to critical support, the equal weight S&P 500 rallied most of the week and even ended its primary downtrend. The supportive moves prevented market breadth from revisiting the prior week’s lows even as the … Read more
The Market Breadth Summary: Latest Warning The Stock Market Summary Rising oil prices dominated the trading backdrop last week. Soaring oil prices helped emphasize inflation fears and bolstered higher bond yields (rates). While the S&P 500 and the NASDAQ survived tests of critical support thanks in large part to strong rebounds in AI-related stocks, small … Read more