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 Last week featured an intense barrage of earnings reports. The collective response on the major indices was a major yawn. The S&P 500 finished flat for the week. The NASDAQ and the iShares Trust Russell 2000 Index ETF both softened by 0.4%. Financials were a notable exception as the Financial Select Sector … Read more
Stock Market Commentary The week began with two straight days of selling for the stock market. Almost everything was in place for a real pullback. Although the S&P 500 (SPY) was less than 2% off its all-time high, my favorite measure of breadth in the stock market, AT40 (T2108), the percentage of stocks trading above … Read more
Stock Market Commentary The growth tantrum is almost a distant memory. Complacency is more the order of the day as the volatility index sinks further below 20 and the S&P 500 (SPY) hops and skips through all-time highs. Big cap tech is popular again. These stocks are helping to drag both the S&P 500 and … Read more
Stock Market Commentary All March long the stock market wrestled with inflation fears. After the S&P 500 (SPY) successfully rallied away from its 50-day moving average (DMA) (red line in the chart below) in early March, I recognized signs that the stock market’s churn was a sign of digestion of these fears. Yet, so-called growth … Read more
Stock Market Commentary After today’s open, the rolling interruption to the reopen trade started to look like the beginning of a real pullback. Sellers got about 90 minutes to enjoy the pressure before buyers took control. The back and forth between selling pressure and buying relief has taken a toll on a swath of the … Read more