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 Market Breadth Summary Stock Market Commentary I switched to “risk off” and cautiously bearish in late January. The subsequent bearish trading action unfolded mainly “under the hood” of the major indices from late January through the beginning of last week, before accelerated selling emerged. A major market rotation away from tech stocks started before … Read more
The Market Breadth Summary Stock Market Commentary The first month of the new year ended in an eventful fashion with significant news both good and bad, sometimes abrupt. The bad news convinced me to go risk off again as breakdowns and pullbacks weighed heavily on individual stocks. The major indices hid the extent of the … Read more
Stock Market Analysis Summary Major U.S. equity indices extended gains after a strong end to November, supported by expectations of a December Fed rate cut. Market breadth indicators (AT50, AT200) improved but failed at primary downtrend resistance, signaling lingering internal weakness. Small caps (IWM) outperformed with a breakout to all-time highs, while several major tech … Read more
Stock Market Commentary The stock market leaned into a melt-up as a constant stream of IPOs signaled risk-on appetite even as a massive downward revisions in jobs in the 12 months through March, 2025 implied more than expected economic weakness ahead. Rate cuts beckon as a result of this broadening weakness, and Wall Street has … Read more