ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
My now wavering bullish case for the Canadian dollar (FXC) took a major hit with the November, 2019 Labour Force Survey. Statistics Canada reported worsening unemployment rates both sequentially and year-over-year. November’s 5.9% unemployment rate was an increase from October’s 5.5% and the 5.6% in November, 2018. The chart below suggests an end to the … Read more
The Stock Performance Roku (ROKU) is up an eye-popping 402% in 2019 year-to-date. ROKU surged off a 13-month low in December, 2018, and the run-up included three straight very positive post-earnings surges. The stock hit its closing all-time high at a stratospheric $169.86 on September 6, 2019. Soon after that milestone, competitive news from Apple … Read more
AT40 = 59.3% of stocks are trading above their respective 40-day moving averages (DMAs)AT200 = 53.9% of stocks are trading above their respective 200DMAsVIX = 13.1Short-term Trading Call: neutral Stock Market Commentary A Sufficient Resolution Seems about right. Just as I switch from a (cautiously) bearish stance to neutral, the stock market throws more definitively … Read more
AT40 = 59.4% of stocks are trading above their respective 40-day moving averages (DMAs)AT200 = 53.1% of stocks are trading above their respective 200DMAsVIX = 12.7Short-term Trading Call: neutral (see below) Stock Market Commentary A Sufficient Resolution I still harbor lingering skepticism, but the S&P 500’s recovery from the last hiccup and its subsequent slow … Read more
AT40 = 56.7% of stocks are trading above their respective 40-day moving averages (DMAs)AT200 = 49.9% of stocks are trading above their respective 200DMAsVIX = 14.3Short-term Trading Call: cautiously bearish Stock Market Commentary No Resolution The stock market did little to resolve my lingering skepticism over the meaningfulness of the “Phase One” or partial Trade … Read more