Now They Need Confirmation

09Jul3:20 pmEST

We're Going to Sox Country

Semiconductor stocks have suddenly turned from leaders into laggards, as even monster multi-year winners like AVGO NXPI SWKS are showing their age. For a while now, some larger semis like INTC TSM TXN have been lagging the midcap semis. But when we look at the group as a whole, on a long-term basis, we can see the major price resistance from...

09Jul12:24 pmEST

Risk on, Risk off; Risk on Risk off...The Risker!

Much like the vintage commercial of The Clapper," above, markets are showing increased corrections regarding "risk on" and "risk off" global assets, be it copper, China, crude, Treasuries, currencies, or high beta equities. Although we have not seen a deep correction in U.S. equities in many years now, sensitive risk correlations tend to be...

09Jul10:07 amEST

The Pepsi Gang Fighting Over Their Turf

After earnings, PEP is outperforming KO among the large defensive of drink makers (among other brands). Pepsico's daily chart, below, reminds me of many charts in this market which have been consolidating multi-year advances in recent quarters, essentially going nowhere. In order to become more bullish, PEP likely needs to hold over $98. ...

08Jul5:02 pmEST

Stock Market Recap 07/08/15 {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...

08Jul2:55 pmEST

The Lay of the Land

On the updated 30-minute chart of the IWM, ETF for the Russell 2000 Index, below, since this morning's note about the $122.60 level being lost we have seen things get worse for bulls.The initial move below $122.60 was enough for me to lighten up longs inside Market Chess Subscription Services , for either small wins or small losses. As it...

08Jul1:25 pmEST

Update on the NYSE Situation from the Floor: It's Close

08Jul11:54 amEST

Buy on the Halt, Sell on the Default

We have got ourselves a new-fashioned suspension of trading this morning, with the NYSE halting trading of all symbols . As though you did not need another reason to play tight in this sloppy market, there you have it. Even mighty AAPL continues to weaken and may actually be in the midst of a true correction. In the meantime, corn and wheat...

08Jul10:24 amEST

A Less Generous Tape

With small caps losing $122.60 this morning, whose ETF is seen below on the 30-minute timeframe, I tightened up my portfolio even further inside Market Chess Subscription Services. To my eye, that $122.60 area marks a dividing line of sorts between whether yesterday's upside reversal marks the usual "V-bottom" signal, or instead is a trap to...

07Jul4:49 pmEST

Stock Market Recap 07/07/15 {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...

07Jul3:25 pmEST

Now They Need Confirmation

An abundance of upside reversals across many sectors, including beaten-down and oversold energy names, gave rise to a spirited rally this afternoon. Of course, all of the reversal "candlesticks" needs upside confirmation in order to amount to anything of substance, namely in names like CHK which have been in steep downtrend and are only now...