ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
AT40 = 58.0% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 62.0% of stocks are trading above their respective 200DMAs VIX = 10.8 (volatility index) Short-term Trading Call: bullish Commentary The last week of trading for April transitioned readily from the French Fly that sent financial markets into celebratory dances … 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
Last week, I noted that silver speculators returned to “maximum bullishness” but warned… “Just like the plunge on March 2nd, the key for SLV is the follow-through. On March 3rd, a small relief rally fell short of 200DMA resistance; two days later SLV gapped down on its way to a 50DMA breakdown. I am guessing … Read more
AT40 = 38.2% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 57.2% of stocks are trading above their respective 200DMAs VIX = 16.0 (volatility index) Short-term Trading Call: cautiously bullish (notable caveats explained below) Commentary The 50-day moving average (DMA) is no longer golden. It figures that on a day … Read more
(This is an excerpt from an article I originally published on Seeking Alpha on April 5, 2017. Click here to read the entire piece.) The International Cocoa Organization (ICCO) recently released its monthly market report for February. February was of course the month of an accelerated price decline for cocoa. Cocoa hit, and retested, a … Read more