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 Welcome to the start of the stock market’s three most dangerous months of the year. A weak jobs report for July helped to send market sentiment into a sharp reversal. The bad economic news suddenly turned the prospect of rate cuts into something to fear. These rate cut fears spun the market … Read more
Stock Market Commentary A plunge in market breadth on Wednesday made me expect a more bearish take on the markets for my next blog post. A sharp rebound led by strong earnings from various retail companies, quickly changed the narrative from a continued NVDA hangover to a bullish divergence and then a bullish setup. Friday’s … Read more
Stock Market Commentary The simple and quiet breakout for the stock market found follow-through last week. Both the S&P 500 and the NASDAQ hit fresh all-time highs during the week. The April CPI (consumer price index) report paved the way on Wednesday’s all-time highs. A softer than “expected” number revived hopes for a rate cut … Read more
Stock Market Commentary NVIDIA Corporation (NVDA) confirmed a double-top with today’s 3.4% loss. For only the sixth time this year, NVDA closed below its uptrending support at the 20-day moving average (DMA) (the dotted line below). Three of these closes have come in the last three days. The stock is now within “inches” of confirming … Read more
Stock Market Commentary The stock market put an exclamation point on the end of the previous week’s statement performance. Market breadth made an important breakout to a 2-month high and almost looks ready to return to overbought conditions. Such a milestone would finally align my favorite technical indicator with the relentless strength in the stock … Read more