ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
The Market Breadth Summary Stock Market Commentary The Supreme Court finally issued a judgement on the President’s tariffs enacted under the cover of the International Economic Emergency Powers Act (IEEPA). In a 6-3 decision, the court invalidated the tariffs thus making them illegal. The news came first thing Friday morning and injected a little bit … Read more
Stock Market Commentary The month of August featured three distinctly strong expansions of market breadth. The last expansion featured the largest single-day expansion I have ever seen. In between these episodes, the market showed signs of exhaustion. The latest exhaustion is centered on the AI trade. NVDA earnings slightly disappointed and included slowing revenue growth … Read more
A Flashback On September 29, 2008, a nervous and weak stock market anxiously awaited the outcome of a Congressional vote on a $700B Wall Street bailout package known as TARP (the Troubled Asset Relief Program) as part of the Emergency Economic Stabilization Act of 2008. According to briefing.com, the S&P 500 (SPY) was down about … Read more
Stock Market Commentary October is the third of the stock market’s three most dangerous months. October, 2024 started with a convergence of bad news tailor-made to fulfill October’s seasonal destiny: intensifying war and geo-political tensions, two intense hurricanes, the looming contentiousness of the U.S. presidential election, another failure from the overbought threshold (bearish according to … Read more
Stock Market Commentary A curious break in the trading action unfolded as financial markets wrestled with two “disappointing” inflation reports. Both the CPI (consumer price index) and wholesale inflation (the producer price index or PPI) came in slightly higher than “expected” (headline and core). The data just tell me expectations are unrealistic or at best … Read more