ONE-TWENTY TWO: Trading Financial Markets
Since the year 2000, delivering a different narrative for students and fans of financial markets: stocks, options, currencies, Bitcoin, and more…
AT40 = 47.2% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 60.1% of stocks are trading above their respective 200DMAs VIX = 14.9 (volatility index) Short-term Trading Call: cautiously bullish) Commentary The S&P 500 (SPY) ended last week on a sour note. The index hit its first 42 trading day … Read more
The list of asset prices that have completely reversed their post-election gains continues to expand. Last week, iron ore officially joined that list…and the sell-off continues apace. On Tuesday night, April 18th, Business Insider reported: “According to Metal Bulletin, the spot price for benchmark 62% fines fell 4.6% to $63.20 a dry tonne, extending its … Read more
Australia just celebrated setting a (modern era) world record for the longest string of quarters without a recession. Yet Australia’s economic backdrop appears to be wavering. This week’s labor force survey could provide a critical point of relief or pile on yet more concern. Iron Ore’s Latest Plunge I begin with iron ore – Australia’s … Read more
Do not tell silver speculators that the Federal Reserve is tightening monetary policy. The latest CFTC Commitments of Traders (CoT) report showed that silver speculators ran net long contracts to a new high, levels not seen since at least 2008. The increase in open interest confirmed the bullishness of silver speculators. Source: Oanda’s CFTC’s Commitment … Read more
Nice Save Bears have taken numerous shots yet the bulls have consistently blocked them all. The S&P 500 (SPY) is barely off its all-time highs and has survived all number of setbacks. These setbacks seem to get more and more shallow. Monday, April 3rd, 2017 delivered another classic example. The morning began with very convincing … Read more
In early January, Tesla Motors (TSLA) confirmed its breakout from resistance at its 200-day moving average (DMA). At that point, I got bullish on the stock from a swing trading perspective. That bullishness came to a screeching halt today. On September 4, 2014, Tesla Motors (TSLA) reached an all-time closing high of $286.04/share. The stock … Read more
AT40 Status: 60.3% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 Status: 68.4% of stocks are trading above their respective 200DMAs VIX Status: 11.0 (volatility index) Short-term Trading Call: neutral Commentary Nothing says “strong sentiment” like a stock market that actually rallies on a strong U.S. jobs report: the fear of … Read more
(T2108 measures the percentage of stocks trading above their respective 40-day moving averages [DMAs]. It helps to identify extremes in market sentiment that are likely to reverse. To learn more about it, see my T2108 Resource Page. You can follow real-time T2108 commentary on twitter using the #T2108 hashtag. T2108-related trades and other trades are … Read more
Desperate times bring out the creativity. On Thursday, January 12, the Central Bank of the Republic of Turkey (CBRT) effectively tightened monetary policy by canceling its weekly auction used to fund banks. On top of this move, Turkey’s President, Recep Tayyip Erdogan, likened Turkey’s forex predicament to a fight against economic terrorism. Deutsche Bank (DB) … Read more
(T2108 measures the percentage of stocks trading above their respective 40-day moving averages [DMAs]. It helps to identify extremes in market sentiment that are likely to reverse. To learn more about it, see my T2108 Resource Page. You can follow real-time T2108 commentary on twitter using the #T2108 hashtag. T2108-related trades and other trades are … Read more