ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Stock Market Commentary The November jobs report suggested that the employment rate fell to levels last seen before the pandemic. However, the 210,000 additional jobs is well below the 1,000,000 additional jobs estimated by the U.S. household survey. This great divergence is a good metaphor for the uncertainty causing sharp and wide gyrations in the … Read more
Stock Market Commentary Pressures continue to build in financial markets. Trading today opened like a typical relief bounce but ended with a thud. A breakdown in the S&P 500 flagged the seriousness of the selling. Fresh highs in a surging volatility index confirmed the magnitude of the pressures from a new fear and loathing for … Read more
Stock Market Commentary Federal Reserve Chairman Jay Powell, aka “J-Pow”, finally decided the time has come to drop the descriptor “transitory” from America’s current experience with inflation (see the 37:00 mark in the video below). J-Pow even acknowledged that “it is therefore appropriate…to consider wrapping up the taper of asset purchases…perhaps a few months sooner” … Read more
Stock Market Commentary News of a new 30-spike protein COVID-19 variant sent financial markets into a tumble. The rapid news flow combined with a shortened, holiday trading day to deliver broad-based and intense selling pressure. As the market absorbs this latest blow, it should become clearer that COVID-19 is a new normal. That is, the … Read more
Stock Market Commentary Technology stocks are now the main stocks climbing the wall of inflation. A notable and stark rotation unfolded this last trading week. A new plunge in market breadth seemingly accompanied selling of almost everything without the big cap tech label. With a topping in market breadth confirmed, I triggered a fall clean-up … Read more