ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
AT40 = 9.4% of stocks are trading above their respective 40-day moving averages (DMAs) (oversold day #5, 35-month low!)AT200 = 12.8% of stocks are trading above their respective 200DMAs (new 34-month low)VIX = 28.4 (10-month high, intraday high at 30.3)Short-term Trading Call: bullish (caveats below!) Commentary The plunge continues. AT40 (T2108), the percentage of stocks … Read more
AT40 = 11.2% of stocks are trading above their respective 40-day moving averages (DMAs) (oversold day #2) AT200 = 31.7% of stocks are trading above their respective 200DMAs () VIX = 23.0 (an increase of 44.0%) Short-term Trading Call: bullish Commentary The market sell-off is unfolding quickly. AT40 (T2108), the percentage of stocks trading above … Read more
Gold, and by extension the SPDR Gold Shares (GLD), has had a rough year. However, based on a historic flip in speculative positioning in gold futures, a bottom is likely in for GLD. According to the tweet and chart below, the net speculative positioning in gold recently went net negative for the first time in … Read more
AT40 = 64.0% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 54.8% of stocks are trading above their respective 200DMAs (a 4-month high) VIX = 12.0 Short-term Trading Call: bearish Commentary Once again, a tried and true bearish signal delivered. However this success came with a tremendous caveat: a simultaneously … Read more
It did not take long. Two days after I identified a Bollinger Band squeeze on iPath Bloomberg Cocoa SubTR ETN (NIB), the technical chart pattern resolved to the downside. NIB has lost 11.9% over this time. Source: FreeStockCharts.com At current levels, NIB has confirmed a top from its 19-month high: a breakdown below the 50-day … Read more