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: Now I see why there was so little fanfare about the end of the bear market. Last week’s trading looks like a warm-up for a bear market comeback. The S&P 500 and the iShares Russell 2000 ETF (IWM) printed bearish confirmations of resistance at their respective 200-day moving averages (DMAs) (the blue … Read more
The conditions for bottoming in the ARK funds started to diverge a bit in late June. While the bottoming patterns differed, the ARK bottom synchronized with the general market’s bottom. Those conditions were born from the deeply oversold conditions that arrived in June. At that time, I interpreted the turmoil as the early days of … Read more
Stock Market Commentary: The bear market ended with a bullish counter, yet I noticed no celebratory or indicative headlines on CNBC. CNBC’s Fast Money included technical discussions but gave no reference to what I consider to be two major technical developments. The NASDAQ closed above its bear market line and joined the S&P 500 and … Read more
Stock Market Commentary: The stock market threw a big fakeout, the biggest I have seen in a long time. Just yesterday, a synchronized failure at key resistance levels from the major indices combined with a drop from overbought conditions to convince me to get (cautiously) bearish on the stock market. The read on July CPI … Read more
Stock Market Commentary: The stock market took one more day to get resolution on the technical signals flashing from market breadth. A drop from overbought conditions triggered a bearish market signal. Failures at important resistance from the S&P 500, the NASDAQ, and IWM each reinforced the bearish signal. However, the relatively mild trading action and … Read more