ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
I saw a flicker of hope for home builders in the May Housing Market Review. Traders decided to snuff that flicker out very quickly afterward. When I wrote June’s housing market review and described a “struggling flicker,” the iShares US Home Construction ETF (ITB) was once again bouncing off the bottom of 2018’s trading range. … Read more
AT40 = 44.5% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 30.3% of stocks are trading above their respective 200DMAs (just above a 32-month low) VIX = 18.1 Short-term Trading Call: neutral Commentary Last week was a week where the stock market seemed to force its way into the endzone … Read more
AT40 = 27.6% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 25.6% of stocks are trading above their respective 200DMAs (just above a 32-month low) VIX = 21.5 Short-term Trading Call: neutral Commentary Last week on November 20th, AT40 (T2108), the percentage of stocks trading above their respective 40-day moving … Read more
I normally wait until my monthly Housing Market Review to report housing data, but I made an exception for November’s NAHB/Wells Fargo Housing Market Index (HMI) which measures the aggregate of home builder sentiment. The plunge in sentiment delivered a timely exclamation point to all the other signs of a slowdown I have been observing … Read more
In most of my Housing Market Reviews this year, I chronicled the growing warning signs in the housing market and the on-going technical damage in the stocks of home builders. Until the last few months, I remained hopeful that a turn-around waited around the corner; I kept looking for the reassurances of the home builders … Read more