The Sting of a Real Pattern

28May12:30 pmEST

A Look at the Energy Complex

I took off the rest of an ERY long this morning inside Market Chess Subscription Services , as a way to play the short side of energy stocks (ERY is the triple-bearish version of the XLE, sector ETF). I may look to reenter the bearish bet after a weak bounce. As for crude itself, on the USO ETF daily chart, below, note that crude is now down...

28May11:23 amEST

Magnus Carlsen Blind at the Sohn Conference

Hat Tip: @Dasan on Twitter for the link

28May10:05 amEST

Aspirational No More

Given the vast array of earnings blow-ups in the retail sector this reporting season, it seems as thigh the aspirational customer, meaning upper-middle class and more or less resorting to purchasing a modified group of luxury brands to sample the "baller" lifestyle, has been trading back down to a more humble line. Specifically, the likes of...

27May4:53 pmEST

Stock Market Recap 05/27/15 {Video}

The following video is a brief, condensed version of the Stock Market Recap which I present each evening to members of Market Chess Subscription Services . In the longer version, I offer tons of actionable trade ideas, educational content, and in-depth objective analysis across all markets. If you enjoy my videos and blog posts, then please...

27May2:17 pmEST

Artistic Flair Into Summer

To update an idea we have been looking at for a while now, note the chart of the under-watched tech firm, Globant. On the daily timeframe, below, we can see a fairly textbook and almost artistic "cup and handle" setup developing, with a move over $26.30 likely setting in motion a breakout higher from the pattern, potentially targeting a move...

27May11:54 amEST

Changing Consumer Tastes

While the hamburger wars have been heating of late, given the strength in SHAK and resurgence in MCD, while HABT JACK RRGB duke it out as well, many causal dining plays have been seeing some notable weakness. Even stalwarts such as BWLD CMG have been glaringly weak, as we could easily be seeing a shift in eating trends. But beyond the...

27May10:08 amEST

Tales of Underwater Retail

While Michael Kors is gapping down hard after disappointing earnings, perpetuating that stock's established downtrend, Tiffany is gapping higher. On the updated weekly chart, below, however, failure by buyers to reclaim $100 may very well lead to a larger topping pattern in light of the stock's multi-year bull run. For a while now, many retail...

26May4:50 pmEST

Stock Market Recap 05/26/15 {Video}

The following video is a brief, condensed version of the Stock Market Recap which I present each evening to members of Market Chess Subscription Services . In the longer version, I offer tons of actionable trade ideas, educational content, and in-depth objective analysis across all markets. If you enjoy my videos and blog posts, then please...

26May2:36 pmEST

Raising with Air

In poker, the phrase "raising with air," means to raise an opponent when you are holding a hand of basically no value--The quintessential bluff, or setup for a bluff later on, if you will. The weak action in the transports of late continues to be cavalierly dismissed by many a market player, trivializing the significance of rails and airlines...

26May11:55 amEST

The Sting of a Real Pattern

Going back to last Friday on the private Twitter feed for Market Chess Subscription Service members we observed a rising wedge pattern forming on the 30-minute chart of the QQQ, ETF for the Nasdaq-100. The rising wedge can be deemed a bearish pattern, as it indicates buyers slowly losing control over the price action as the market grinds...