ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
The Setup Tesla (TSLA) gapped down last Tuesday on the heels of news that the SEC wanted to go after Elon Musk for tweet contempt. Buyers stepped right in, and, with some help from more Musk tweets about imminent news, the stock shot straight up and even broke through converged resistance at 50 and 200-day … Read more
General Motors (GM) and Amazon.com (AMZN), fascinating partners in anything, are reportedly going to co-invest in electric pickup truck company Rivian. The company has toiled away since its founding 2009. This rumor/news comes on the heels of Rivian’s big reveal late last year and likely confirms that the company is close to getting product into … Read more
AT40 = 76.3% of stocks are trading above their respective 40-day moving averages (DMAs) (1st day overbought)AT200 = 27.4% of stocks are trading above their respective 200DMAs (6-week high)VIX = 17.8Short-term Trading Call: cautiously bullish Commentary I noted in my last post that the signs of exhaustion in the major indices gave way to more … Read more
AT40 = 11.9% of stocks are trading above their respective 40-day moving averages (DMAs) (oversold day #12)AT200 = 12.4% of stocks are trading above their respective 200DMAsVIX = 23.2Short-term Trading Call: bullish (with caveats all over again) Commentary $AUDJPY $AUDUSD $GBPJPY flash crashed. Could this ALL be #forex fallout from $AAPL revenue warning!?! pic.twitter.com/WZS10wj7D9 — … Read more
AT40 = 3.6% of stocks are trading above their respective 40-day moving averages (DMAs) (oversold day #7, 10-year low!)AT200 = 8.0% of stocks are trading above their respective 200DMAs (9 1/2- year low!)VIX = 36.1 (1-day gain of 20.0%, 10 1/2- month high)Short-term Trading Call: bullish (oh so many caveats below!) Commentary Although it’s been … Read more