ONE-TWENTY TWO: Trading Financial Markets
Since the year 2000, delivering a different narrative for students and fans of financial markets: stocks, options, currencies, Bitcoin, and more…
The bear market intrusion to the oversold period gave way to an explosion of bullish trading action this week. The maximum drawdown of October for the S&P 500 (SPY) was 4.0% well above the average for the month. This extreme move provided the perfect setup for the sharpness of the current oversold bounce. The rubber … Read more
Stock Market Commentary Last week featured an intense barrage of earnings reports. The collective response on the major indices was a major yawn. The S&P 500 finished flat for the week. The NASDAQ and the iShares Trust Russell 2000 Index ETF both softened by 0.4%. Financials were a notable exception as the Financial Select Sector … Read more
AT40 = 59.4% of stocks are trading above their respective 40-day moving averages (DMAs)AT200 = 53.1% of stocks are trading above their respective 200DMAsVIX = 12.7Short-term Trading Call: neutral (see below) Stock Market Commentary A Sufficient Resolution I still harbor lingering skepticism, but the S&P 500’s recovery from the last hiccup and its subsequent slow … Read more