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: The stock market overcame a serious setback with an impressive rebound. The rally started before Jay Powell announced the Federal Reserve’s latest decision on monetary policy and pushed higher afterward. The market seemed determine to launch as the opening gap up immediately erased the previous day’s loss. Buyers never looked back and … Read more
Stock Market Commentary: The synchronized breakout looked impressive, but it already hit a serious setback. Friday’s downbeat day was relatively mild on a percentage loss basis, but the context was important. The economic setback came from the July update for the S&P Global Flash US PMI (Purchasing Managers’ Index™) Composite Output Index. The headline says … Read more
Stock Market Commentary The synchronized breakout looked impossible just yesterday. Apple (AAPL) reversed course with a 2.1% loss that seemed to confirm recent strength was just a bear market tease. Rumors spread through the market that Apple will announce a hiring slowdown and reduced spending. Today, all was forgotten as the major indices all enjoyed … Read more
Stock Market Commentary The stock market failed its test of the summer of discontent. The bear market stayed true to its name and held firm at important resistance levels. This is a time to shift into neutral in deference to the unenthusiastic buying power and the overwhelming technicals. With earnings season underway and the continuing … Read more
Stock Market Commentary The major indices enjoyed important rebounds last week. Despite this summer of discontent, buyers managed to follow through on the previous week’s test of the oversold threshold. The gains are yet another testament to the opportunities in oversold trading conditions. The rebound was strong enough to push market breadth to new heights … Read more