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 Market fears expanded last week as converging headwinds took their toll on a market that insists on buying every dip. The best example of buying persistence came with the market’s first regular trading session after the U.S. and Israel attacked Iran. The S&P 500 gapped down at Monday’s … Read more
The U.S. dollar index (USDX) remains stuck in its downtrend by a thread. Source: FreeStockCharts.com The long-awaited catalyst was the U.S. jobs report for July, 2015. In my opinion, the report shed no new light on the timing for a Fed rate hike. It was pretty much more of the same. The stalemate on the … Read more
California governor Jerry Brown surprised the state by announcing $6.6B in additional tax revenues that were not expected in the last tax year. In the context of Silicon Valley’s frenetic scramble for new hires, perhaps these revenues would be much less surprising. The job market is hot for engineers, start-ups are getting funded (and acquired), … Read more
Once again, I am left wondering why another poor jobs report has supposedly caught the market and pundits by surprise. Those of us on the ground, and not just generating models, know and understand the ugliness of the job situation and see how it continues to worsen, not improve. We remain on schedule to hit … Read more