ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Stock Market Analysis Summary Stock market indices, including the S&P 500, NASDAQ, and Russell 2000, staged sharp recoveries, breaking key resistance levels as holiday spirits fueled by revived rate cut hopes apparently helped to heal a cracked stock market. Market breadth expanded sharply, with the percentage of stocks trading above their 50-day moving averages (AT50) … Read more
Stock Market Commentary The stock market continued its inflation celebration last week with a surge on Monday. The buying momentum abated from there as the holiday-shortened week rolled into Thanksgiving and then Black Friday. Even though NVIDIA (NVDA) stole the earnings spotlight for the week, the U.S.’s most storied day of shopping set the stage … Read more
Stock Market Commentary Stocks stumbled their way through a week fraught with hopes and fears for Fed Chair Jerome Powell’s speech at Jackson Hole. With looming oversold conditions, the most significant technical event occurred with a bearish engulfing right under important resistance levels for both the S&P 500 and the NASDAQ. The relief buying that … Read more
Stock Market Commentary In last week’s decision on monetary policy, Federal Reserve Chair Jerome Powell directly and fully acknowledged inflationary pressures in the economy. Perhaps lost in the inflation buzz was Powell’s quick commentary on financial stability during the Q&A session: “…asset valuations are somewhat elevated, I would say.” Of course, various folks in the … Read more
Stock Market Commentary The stock market’s dip into oversold territory lasted a day. Subsequent trading has carved out a new divergence. Big cap stocks like Apple (AAPL) and Microsoft (MSFT) helped bullrush the S&P 500 into an all-time high while a wide swath of stocks were left behind. Accordingly, market breadth is languishing again. The following stocks charts … Read more