Yet Another Jobs Report Takes the Shine Off A Post-Fed High – The Market Breadth

shine off (Credit: christophercjensen on Flickr)

Stock Market Commentary: On cue, the stock market groaned at fresh signs of economic strength, this time from another strong jobs report. The recession Wall Street wants is on hold yet again. The bullish intent that charged out of the wake of the Federal Reserve’s last statement on monetary policy made a sharp u-turn. The … Read more

New Crypto Drama Escorts Abrupt End of Bullish Run for Stocks – The Market Breadth

abrupt end (Credit: Crash by JessicaSarahS on Flickr)

Stock Market Commentary: The last bullish run in the stock market came to an abrupt end. The day started on a positive note, but trading went awry after a mix of relatively unsurprising economic news releases and Fedspeak. News that the Justice Department would announce an international enforcement action against a cryptocurrency entity seemed to … Read more

Bitcoin: From Boring to Bursting to A Surprising Short

Bitcoin Boring Bitcoin (BTC/USD) was pretty boring until this past weekend. After neatly failing at resistance from its 200-day moving average (DMA) in late March, BTC/USD settled back into what was starting to look like an extended trading range. However, the pressures of the bear market and a soaring U.S. dollar (DXY) proved too much … Read more

Almost Like Nothing Happened – The Market Breadth

Stock Market Commentary Last week opened with a gap down amid hand-wringing about the potential for contagion from debt problems in China’s property market. However, the week ended like nothing happened. The major indices even managed marginal gains after the dust settled. As is so often the case, the Federal Reserve, under the comforting words … Read more

From Growth Tantrum to Growing Complacency for the Stock Market – Above the 40 (April 16, 2021)

Stock Market Commentary The growth tantrum is almost a distant memory. Complacency is more the order of the day as the volatility index sinks further below 20 and the S&P 500 (SPY) hops and skips through all-time highs. Big cap tech is popular again. These stocks are helping to drag both the S&P 500 and … Read more

Microstrategy Stock: A Fresh Lesson In Trading Parabolic Price Action

I am late to the resurgence of Microstrategy (MSTR), but I am finding some valuable lessons in the technical story. MSTR caught fire from an aggressive decision to protect cash reserves with investments in Bitcoin (BTC/USD). As a result, Microstrategy has enjoyed significant price appreciation from the current Bitcoin rally. Along the way, the uptrend … Read more

The Stock Market Stretches Into An Extended Overbought Rally – Above the 40 (December 4, 2020)

Stock Market Statistics AT40 = 79.6% of stocks are trading above their respective 40-day moving averages (DMAs) (Day #10 overbought) AT200 = 77.7% of stocks are trading above their respective 200DMAs (7 1/2 year high) VIX = 20.8 Short-term Trading Call: neutral Stock Market Commentary A week ago, the overbought stock market stretched for a … Read more