Team Defense

25Nov3:00 pmEST

Planes, Trains, and Automobiles

I am leaving a bit early today to travel for Thanksgiving. Markets will be closed tomorrow for the full session, but open on Friday until 1pm EST. As for the tape, small caps and biotechs look to be benefitting the most from the holiday drift higher. I closed out some positions and will come back fresh for Members for the Weekend Video...

25Nov12:40 pmEST

The Last Gasp of a Common Theme This Autumn

Small cap and biotechnology issues are outperforming again today, as the holiday drift appears to be setting in. Throughout this autumn, we have seen intervals where those groups have outperformed. However, it is worth remembering that the IWM and IBB XBI biotech ETFs are all trading well below their 200-day moving averages. So, we are not...

25Nov10:48 amEST

Big Green Tractor in a Big Green Range

One of the more interesting events over the summer, which we discussed back then in real-time on this website , was that John Deere was making fresh highs while Caterpillar, another large cap ag machinery play, was teasing multi-year lows. We surmised that something had to given with this spread between CAT and DE, and it was more likely...

24Nov5:13 pmEST

Stock Market Recap 11/24/15 {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...

24Nov2:23 pmEST

Tomorrow at High Noon

Due to the Thanksgiving holiday on Thursday, the natural gas inventory report has been pushed up to tomorrow at 12pm EST. We know natty has been a heartbreaker for a while now, with even the profitable counter-trend bounces in 2013 and 2014 been noticeably absent for much of this year. At issue, though, is whether we are near an infection...

24Nov11:17 amEST

The Hunt for Thanksgiving Oil

Crude oil spiked up this morning after the downing of a Russian warplane near the Turkey-Syria border. As we speak, the USO ETF for crude is pulling back in to that $13.25 level we looked at yesterday. If crude is going to put in a low here, once and for all, I suspect converting that level into support headed into tomorrow morning's inventory...

23Nov5:22 pmEST

Stock Market Recap 11/23/15 {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...

23Nov3:14 pmEST

EA Sports: It's in the Gamestop

Working our way through the final hour of today's session, small caps, biotech, and the likes of NFLX continue to lead the market even as we fade well off the highs of the day. For now, it appears to be just an initial holiday week shakeout. However, we have indeed seen surprisingly bloody Thanksgiving weeks before, namely in 2011. At the...

23Nov12:34 pmEST

Latecomer Chipotle Shorts Need to Avoid Getting Barbacoa'd

After the E. coli news in recent weeks, CMG is staging a relief rally today from oversold weekly chart conditions, seen below. After plunging in a virtual straight line down over the last month, the stock hit the lower weekly oversold Bollinger Band marking intermediate-term rather oversold conditions. At the moment, I would look for a test of...

23Nov10:46 amEST

Team Defense

Despite concerning price action in the likes of CHK last week, not to mention the energy-filled HYG JNK ETFs, you almost get the sense that it is a team effort by energy bulls to defend the 50-day moving average on the XLE, energy sector ETF and pictured below on the daily timeframe. As long as that dark blue line continues to hold, it is...