ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
The British pound has experienced a lot of fireworks this month, but the currency remains in an uptrend against the U.S. dollar (GBP/USD). I stayed focused on this uptrend when I insisted on trading contrary to the screaming headlines about the UK getting the quarantine treatment from the rest of Europe. The rebound unfolded a … Read more
Stock Market Commentary The Federal Reserve signaled an incremental improvement in its economic outlook by making an allowance for limited stock repurchases and dividends by the country’s top financial institutions. As a result, bank stocks apparently soared in after hours trading. That fresh rally in financials should extend to a positive open on Monday and … Read more
Stock Market Statistics AT40 = 79.6% of stocks are trading above their respective 40-day moving averages (DMAs) (Day #10 overbought) AT200 = 76.0% of stocks are trading above their respective 200DMAs (near 3-year high and holding breakout above post financial crisis downtrend) VIX = 20.8 Short-term Trading Call: neutral Stock Market Commentary Instead of Monday, … Read more
Stock Market Statistics AT40 = 41.8% of stocks are trading above their respective 40-day moving averages (DMAs) (ranged from 25.8% to 42.8%) AT200 = 42.6% of stocks are trading above their respective 200DMAs (ranged from 39.2% to 45.5%) VIX = 27.6 Short-term Trading Call: cautiously bullish Stock Market Commentary Last Friday was the kind of … Read more
The Turkish lira suffered another run of sustained weakness this month. Weakness in the Turkish lira drove USD/TRY to new all-time highs. On Thursday, the Central Bank of the Republic of Turkey (CBRT) tried yet again to stop the bleeding. The Turkish Central Bank hiked its policy rate an entire 200 basis points from 8.25% … Read more