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: Market breadth was last this high 17 months ago. At that time, my favorite technical indicator was on its way down as a part of another buy-the-dip moment for the pandemic-inspired rally in the stock market. This time, market breadth is sitting right on top of the threshold of overbought conditions. The … Read more
Stock Market Commentary: Once again, Apple Inc (AAPL) became a poster child of market sentiment. When AAPL pulled away from resistance at its 50-day moving average (DMA) (the red line below), the move looked like a tease with bear market conditions still in force. Two weeks later, AAPL emerged vindicated as a 3.3% post-earnings gain … Read more
Stock Market Commentary: The stock market overcame a serious setback with an impressive rebound. The rally started before Jay Powell announced the Federal Reserve’s latest decision on monetary policy and pushed higher afterward. The market seemed determine to launch as the opening gap up immediately erased the previous day’s loss. Buyers never looked back and … Read more
Stock Market Commentary: The synchronized breakout looked impressive, but it already hit a serious setback. Friday’s downbeat day was relatively mild on a percentage loss basis, but the context was important. The economic setback came from the July update for the S&P Global Flash US PMI (Purchasing Managers’ Index™) Composite Output Index. The headline says … Read more
Stock Market Commentary The synchronized breakout looked impossible just yesterday. Apple (AAPL) reversed course with a 2.1% loss that seemed to confirm recent strength was just a bear market tease. Rumors spread through the market that Apple will announce a hiring slowdown and reduced spending. Today, all was forgotten as the major indices all enjoyed … Read more