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 market took just one more day to resume the momentum of expanding market breadth. An extreme October set up this bullish start to November with fresh all-time highs for major indices. While small caps as a group just missed an all-time high, the surge in small caps drove a bullish expansion … Read more
Stock Market Commentary The S&P 500 (SPY) bounced back from September’s woes for a 6.9% gain for the month of October. While the gain is extreme, I am even more interested in a different October extreme. Somehow, the index managed to skate through October without a notable drawdown. The maximum drawdown in October for the … Read more
I believe there is an old Wall Street adage that describes the inevitability of a stock hitting $100 once it gets “close enough” to that price level. One hundred is a nice round number, and it looks like a major (psychological) milestone. So when both Nike (NKE) and Carmax (KMX) suffered post-earnings pullbacks from around … Read more
AT40 = 56.9% of stocks are trading above their respective 40-day moving averages (DMAs)AT200 = 55.7% of stocks are trading above their respective 200DMAsVIX = 12.6Short-term Trading Call: neutral Stock Market Commentary It appears China and the U.S. finally agreed on a Partial, Phase One Trade Deal. The bare bones basics on the deal consist … Read more
AT40 = 57.4% of stocks are trading above their respective 40-day moving averages (DMAs)AT200 = 54.9% of stocks are trading above their respective 200DMAsVIX = 12.1Short-term Trading Call: neutral Stock Market Commentary The stock market seems to be on a slow and steady march toward Christmas. The current bearish divergence and an exceptionally low volatility … Read more