ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Stock Market Statistics AT40 = 28.7% of stocks are trading above their respective 40-day moving averages (DMAs). (traded as low as 24.8%)AT200 = 40.0% of stocks are trading above their respective 200DMAsVIX = 27.8 (traded as high as 31.1)Short-term Trading Call: neutral (changed from cautiously bearish) Stock Market Commentary For a brief moment the entire … Read more
I spoke a day to soon on the bearish downtrend on XLI, the SPDRs Select Sector Industrial ETF. A healthy 3% one-day gain sent the ETF hurtling over resistance and into breakout territory. The next line of resistance is the June high or the “left shoulder” formed in late May/early June, depending on your perspective. … Read more
Day-to-day, Mr. Market’s mood seems to swing dramatically up and down with little consistent rhyme or reason. The neat rationalizations of the bulls one day give way to the equally neat rationalizations of the bears the next day. For example, the market is very undervalued because of record low Treasury bill rates, highly stimulative monetary … Read more