ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
The Mexican peso is trading at levels last seen 10 months ago against the U.S. dollar (USD/MXN). Source: FreeStockCharts.com The rate hike from the Federal Reserve yesterday, along with an official launch of the Fed’s effort to reduce the size of its balance sheet, helped USD/MXN rally. Normally, I would fade USD/MXN here at the … Read more
AT40 = 58.6% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 58.5% of stocks are trading above their respective 200DMAs VIX = 10.7 (volatility index) (intraday high of 12.11) Short-term Trading Call: cautiously bullish Commentary It seemed poetic. The Golden State Warriors, hailing from the tech heavy San Francisco Bay … Read more
AT40 = 52.1% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 55.4% of stocks are trading above their respective 200DMAs VIX = 10.2 (volatility index) Short-term Trading Call: cautiously bullish Commentary One out of three. The last event of Thursday’s Trifecta had the only notable impact on financial markets. With … Read more
AT40 = 47.0% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 54.4% of stocks are trading above their respective 200DMAs VIX = 10.4 (volatility index) Short-term Trading Call: cautiously bullish Commentary At the time of typing, financial markets are carefully stepping into “Trifecta Thursday” – or maybe not so carefully … Read more
My bearishness on the U.S. dollar index (DXY0) continues as two currency positions in particular have delivered against the U.S. dollar. A month ago I wrote about the Turkish Lira (USD/TRY) and suggested that the high-yielding currency pair would eventually crack below support at its 200-day moving average (DMA). USD/TRY delivered at the end of … Read more