ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
AT40 = 44.1% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 48.5% of stocks are trading above their respective 200DMAs VIX = 12.2 (was as high as 14.1) Short-term Trading Call: neutral Commentary Another North Korean nuclear power move caused more rattling in financial markets. The last time the market … Read more
The SPDR Gold Trust (GLD) accomplished a major milestone in the past week: it fully reversed its entire post-election loss in what looks like a major breakout. Source: StockCharts.com Speculators have been rushing back to gold likely in anticipation of these much higher prices. Source: Oanda’s CFTC’s Commitments of Traders Since 2008, here are the … Read more
AT40 = 39.5% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 50.4% of stocks are trading above their respective 200DMAs VIX = 12.0 Short-term Trading Call: bullish Commentary Urban Outfitters (URBN) notwithstanding with its 19.5% after hours surge, Tuesday, August 15, 2017 was a signature day for the weakness engulfing … Read more
I clearly took profits on my relief rally trade in iShares Silver Trust (SLV) too early. Source: FreeStockCharts.com While SLV wrestles with resistance at its 50-day moving average (DMA), the silver ETF sits on top of a 7.3% gain since hitting a 15-month low three weeks ago. Given SLV was able to power through the … Read more
A year ago, speculators accumulated net long contracts on gold that exceeded anything seen since at least 2008. Starting in late 2015, silver speculators set several such records with the latest set just three months ago. Now, speculators in gold and silver are in full retreat. Net longs seem headed for zero for both precious … Read more