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 Small cap stocks led a market breadth breakout, then faded just short of overbought, leaving me encouraged by momentum but wary of a near-term pullback. The S&P 500 ground to fresh highs, while the NASDAQ lagged by stalling at prior peaks. A clean breakout still awaits for the NASDAQ. CES-driven leadership … Read more
Stock Market Commentary Last week delivered one of the most bullish one-day expansions of market breadth I have ever seen. On Friday, August 22nd, Federal Reserve Chair Jerome Powell spoke at the Jackson Hole confab and gave financial markets sufficiently dovish signals to reignite a rally that had waned most of the week. Big cap … Read more
Stock Market Commentary I looked to last week’s earnings from NVIDIA Corporation (NVDA) with great anticipation. The indices gathered momentum with all-time highs and seemed to point to a big moment for NVDA. NVDA did indeed have a big moment, but it helped precious few. In fact, NVDA’s gain looked like a net loss. Buyer’s … Read more
Stock Market Commentary Is another tease for the bears underway? The current bullish rally has included so many temporary bearish signals that I had to stop using baseball metaphors to call strikes. Now, the latest bearish signal looks like the most ominous yet. In the wake of February’s job report, price action delivered a wicked … Read more
Stock Market Commentary The economic numbers keep coming up roses for the stock market. Last week’s celebration was driven by a soft inflation report for October that further emboldened buyers. A fresh surge in bond prices (lower yield) led the way as small caps in particular rocketed higher. The relentless buying pressure also solidified the … Read more