ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
On July 23, Starbucks (SBUX) tested its 200-day moving average (DMA) for the first time since last October. This support held as the general stock market rallied into the close. This level also happened to coincide with SBUX’s breakout in March as SBUX moved on to fresh all-time highs. Source: FreeStockCharts.com If SBUX fails to … Read more
Coffee prices have soared along with most other commodities over the past year and more. For example, the iPath Dow Jones-UBS Coffee Total Return Sub-Index ETN (aka JO) is up 70% since the end of 2009. The last earnings results from Starbucks (SBUX) demonstrated the stress from these higher coffee prices. The company slightly lowered … Read more