13Nov10:01 amEST

You Have Your Shows; I Have Mine

One of the main objectives of Market Chess, both here and with Members, is assessing any given market as objectively as possible. If simply creating the appearance of always winning/getting a call right had been the goal, it really is not that hard to do so in today's fast-moving atmosphere of constant headlines and market moves: A gap up here, a reversal there, Disney (several points off post-earnings highs now) rallying off earnings as though it were actually a market "leader," or anything else for that matter. 

In other words, it is quite easy to cherry-pick this or that for self-serving purposes. Over time, I can assure you, that mindset becomes grating both for the writer and reader. 

Thus, we are going to focus on the overarching context of certain markets where it is most applicable and, ultimately, actionable. 

Case in point: A Friday the 13th gap higher takes the QQQ ETF for the top Nasdaq heavyweights back up to the key $290 level we have been observing all week. While the initial jubilation by bulls took hold off the bell, how the Q's negotiate this spot today will dictate whether today is more bark than bite or a move which makes actual upside progress. 

Stock Market Recap 11/12/20 ... Weekend Overview and Analysi...

 
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