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’s scene from the summer of discontent included hand-wringing over the June inflation report. However, almost “quietly”, Apple Inc (APPL) pulled off a technical breakout contrary to the current bear market (especially for technology stocks). The previous week, AAPL confirmed a breakout above resistance at its 50-day moving average (DMA) (the … 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
Stock Market Commentary: Fears of a recession are running high as the Federal Reserve scrambles to normalize monetary policy. The Fed is racing against an economic clock. It needs to get rates as close to the “neutral rate” as possible before a weakening economy finally forces them to reverse course. The higher the rates when … Read more
Stock Market Commentary The rumors were true. The Federal Reserve decided to pump up interest rates by 75 basis points (bps) (0.75%) instead of the 50 bps originally anticipated by financial markets. The historic move was the largest point increase since 1994. During the press conference explaining the latest decision on monetary policy, Chair Jerome … Read more
At the time of typing, a steep sell-off continues in Bitcoin (BTC/USD) and Ethereum (ETH/USD). Typically, I would jump in and accumulate some more of either or both cryptocurrencies. However, after I took a step back to review the charts, I realized Bitcoin and Ethereum are in precarious positions with support melting away. Both cryptocurrencies … Read more