ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
(This is an addendum to the last T2108 Update that presented the case for an imminent, extended, overbought rally for the S&P 500). On Friday, July 27, the S&P 500 broke out in a rally that continues in grinding fashion from the June lows. In parallel, the Australian dollar (FXA) has also rallied from its … Read more
(This is an excerpt from an article I originally published on Seeking Alpha on July 23, 2012. Click here to read the entire piece.) Japanese Finance Minister Jun Azumi has formed a habit of warning currency markets about the strength in the Japanese yen (FXY). For example, on May 31st, with USD/JPY slightly above 78 … Read more
(T2108 measures the percentage of stocks trading above their respective 40-day moving averages [DMAs]. 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 posted on twitter using the #120trade hashtag) T2108 Status: 59.9% (ends last overbought … Read more
(T2108 measures the percentage of stocks trading above their respective 40-day moving averages [DMAs]. 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 posted on twitter using the #120trade hashtag) T2108 Status: 70.9% (6th overbought day) … Read more
(This is an excerpt from an article I originally published on Seeking Alpha on July 13, 2012. Click here to read the entire piece.) After another pins and needles rally back to the 50DMA resistance, I think it is time to switch to a more bearish strategy on the British pound (FXB). Since mid-June, I … Read more
(This is an excerpt from an article I originally published on Seeking Alpha on July 1, 2012. Click here to read the entire piece.) Thanks largely to the surging euro, the U.S. dollar index (UUP) took one of its nastiest one-day tumbles since last October, falling 1.3%. I believe this drop all but confirms staunch … Read more
(T2108 measures the percentage of stocks trading above their respective 40-day moving averages [DMAs]. 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 posted on twitter using the #120trade hashtag) T2108 Status: 34.9% VIX Status: 20.1 … Read more
(This is an excerpt from an article I originally published on Seeking Alpha on June 19, 2012. Click here to read the entire piece.) {snip} I was looking for confirmation of the increasingly bullish outlook, but I did not get it. In “Bearish Implications of A Rare Convergence of Extremes in Yen vs S&P 500 … Read more
(T2108 measures the percentage of stocks trading above their respective 40-day moving averages [DMAs]. 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 posted on twitter using the #120trade hashtag) T2108 Status: 37% VIX Status: 18.3 … Read more
On Friday, the Australian dollar (FXA) enjoyed continued strength as financial markets rallied strongly into the close ahead of Sunday’s potential turmoil with Greek elections. Just two days ago, I wrote that I switched back to a bearish stance on AUD/USD after it reached my relief rally target of parity. I also said that “I … Read more