ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Stock Market Commentary The Federal Reserve helped unlock the stalemate in pricing action that stalled the bearish divergence tugging the market toward oversold trading conditions. Fed Chair Jerome Powell once again told financial markets the Fed remains as hawkish as ever. Expectations contracted for rate cuts next year, interest rates soared, and stocks plunged. While … Read more
Stock Market Commentary Last week was a time to avoid staring too hard at the day-to-day pricing action. The major indices were pretty much locked into a stalemate. Two breakouts were followed by two breakdowns. From a wider perspective, a stalemate has effectively been in place since mid-August. Despite my expectations, last month’s Jackson hole … Read more
Stock Market Commentary The stock market got a case of the uglies last week. The end of summer trading transitioned right into a swift drawdown for the stock market’s second of the three most dangerous months of the year. The fresh breakdowns in the major indices accompanied new lows for market breadth. Suddenly, what I … Read more
Stock Market Commentary The annual Jackson Hole confab of central bankers starts this coming Thursday. Almost like technical poetry, the S&P 500 and the NASDAQ are back to the highs directly preceding Jackson Hole 2022. Depending on your perspective, this Jackson Hole redux either represents a bullish confirmation of the market’s resilience after 18 months … Read more
Stock Market Commentary The summer of stocks looks like it is winding down as trading dynamics transition into the stock market’s most dangerous months. The complete reversal of July’s gains on the major indices represents the most ominous sign of the transition. Technology stocks in particular have flipped from rocketships to anchors weighing on the … Read more