Writer at The Technical Investor

Michael Gouvalaris is the author of The Trading Playbook: Two Rule Based Plans for Day Trading and Swing Trading. He is the author of the Technical Investor blog (formerly Mikes Trading Journal) which began in 2009 and has provided timely and accurate technical analysis of the markets and ... more

ALL CONTRIBUTIONS

Q1 Market Update: Sometimes Risk Assets Go Down…
The reality is that stocks are risk assets. They go down from time to time. And often there’s no rhyme or reason. Half of all years since 1950 have experienced a double digit correction in stocks.
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The Good News…
The financial markets are adjusting to the new reality of a stronger global economy. Yes, rates are starting to rise, but it’s for good reasons. Sooner or later the market will realize this.
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What Happened?!?
The rapid pace of the advance in Treasury rates is what the market needs to now “reprice”. The 10 year treasury rate is subtracted from the earnings yield on the S&P 500 to come up with the “equity risk premium”.
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Financial Markets Chart Package…
Global equity markets continue to trade on decent fundamentals (increased global GDP and corporate profit growth). Recession risk is low and valuations compared to alternatives and inflation are positive.
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Volatility Index Takes Out Its Pre-Crisis Lows…
The S&P 500 volatility index shows the market’s expectation of volatility over the proceeding 30 days. Since volatility is attributed to declining markets, a rising VIX usually coincides with market sell-offs and vice versa.
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Interest Rates At Key Support Levels…
The 10 year US treasury bond interest rate is the benchmark for fixed income. Over the last 12 months, interest rates reached a generational low of 1.33% in July 2016.
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Comments

Latest Comments
Should Investors Be Cautious On Short Term Bonds?
2 years ago

Thanks for reading Alexa, I appreciate that.

In this article: UST
August Lows Could Be Revisited
2 years ago

Agreed. Good news is bad and bad news is good... It's really made the job more difficult.

Financial Markets Week In Review: September 14-18
2 years ago

Thanks for the kind words! Good points, It seems as if the Fed's new policy of additional transparency has only made uncertainty (and as a result, volatility) increase. Thanks for reading.

Tough Market...
3 years ago

True. Don't forget the inevitable rising Fed Funds Rate after 6 years at 0% as well.

In this article: DJI, SPX, TNX, AGG
Why Is There A Common Perception That The Stock Market Is Rigged?
3 years ago

Hi Terry. I was thinking more in terms of the macro picture but you make an excellent point. Individual stock manipulation or front-running is a problem. Thanks for reading.

In this article: SPY
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STOCKS I FOLLOW

DIA SPDR Dow Jones Industrial Average
QQQ PowerShares QQQ Trust Series 1
SPY SPDR S&P 500

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Work Experience

Investment Advisor Representative
James D. Maxon Financial Advisors LLC
2013 - Present (5 years 7 months)
Technical Analyst/Trader
Sole Proprietor
November 2007 - Present (10 years 10 months)
Series 63 and Series 65. Contributor for Investing.com Work has been featured by regular contributors to CNBC, Forbes, Business Insider and more... Some of my work: Technical analysis web site: mikestradingjournal.blogspot.com

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