ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Housing Market Intro/Summary In several posts on the housing market, I made the case for a top in the stocks of home builders and pointed out the parallel weaknesses in the housing data. Last week, the iShares US Home Construction ETF (ITB) appeared to confirm what looks like a triple top in the index. Not … Read more
On May 10th, the Turkish lira finally sprung back to life after USD/TRY hit a 7-month high. The move came right on the heels of another move by the Central Bank of the Republic of Turkey (CBRT) to adjust its reserve requirements in a way to support the currency: “Considering the latest developments in financial … Read more
AT40 = 25.2% of stocks are trading above their respective 40-day moving averages (DMAs)AT200 = 39.3% of stocks are trading above their respective 200DMAsVIX = 17.9Short-term Trading Call: neutral Stock Market Commentary AT40 (T2108), the percentage of stocks trading above their respective 40DMAs, broke through 30% and closed at 25.2%. My favorite technical indicator is … Read more
AT40 = 34.4% of stocks are trading above their respective 40-day moving averages (DMAs)AT200 = 43.8% of stocks are trading above their respective 200DMAsVIX = 15.9Short-term Trading Call: neutral Stock Market Commentary Bearish resistance won the trading battle the previous week. Last week, sellers did their best to follow-through. It was a week of chop … Read more
Tears In May Three weeks ago, I wrote about my skepticism about the strength of the British pound (FXB) in the wake of a resounding political defeat for the Conservatives. Brexit-related moves in the pound have proven fleeting and this time was no different. The pound peaked right after that post, but the persistent nature … Read more