ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Stock Market Commentary Just one day after stocks narrowly avoided bearish conditions, a looming end to this extended overbought rally brought the stock market right back to the edge. Market breadth is at its lowest point since the overbought period began over a month ago. This tension means that the market may become less willing … Read more
Stock Market Commentary Exactly two weeks ago, the stock market fell out of bed. I called the abrupt move the rally’s third strike. However, buyers jumped right back into the fray and overcame that third strike with a rally right to the second to last trading day of the year. So far, the new year … Read more
Stock Market Commentary Market breadth tentatively tested the overbought threshold before buyers got a hit and made a dash into overbought conditions. The previous tentativeness created a first strike against the market rally. The dash into overbought conditions refreshed a broad bullishness in the stock market. Long-term interest rates were once again the center of … Read more
Stock Market Commentary: Last week ended the overbought period with a relatively strong report on initial claims for unemployment. The stock market – still freshly stung with the memory of the previous week‘s exceptionally strong jobs report – sold off sharply in response to the good economic news. A stubbornly resilient labor market continues to … Read more
After two bullish engulfing patterns, Uber Technologies, Inc (UBER) finally carved out a more lasting, even if sloppy, bottom. A business update at the Goldman Sachs Communacopia Conference provided the catalyst. CEO Dara Khosrowshahi delivered good news across several operational metrics. He also reported that UBER may get to profitability in the current quarter. After … Read more