Welcome to the "Tell" Club, Tesla

06Jan3:34 pmEST

A Race Against the Loonie

Headed into the bell, stocks are bouncing off session lows. NFLX is still enjoying its squeeze from earlier it the day, and sentiment seems to be convinced the selling in the market is largely contained. One point to note is that the Canadian Dollar, or "Loonie," continues to weaken. The Loonie is often seen as a commodity or petro-currency,...

06Jan1:09 pmEST

Netflix Everywhere, Except China and Above Recent Highs

Shares of NFLX popped just now, likely related to this news . The momentum stock had been oversold, sitting at its lower daily chart Bollinger Band, was due for some type of snapback rally to keep latecomer shorts honest about how challenging shorting high beta names can be before we are in a full-blown bear market. Still, the fact remains...

06Jan10:50 amEST

Upside-Down Thirst for Risk

Even though they are both ETFs which house small capitulation issues, the IWM (ETF for the Russell 2000 Index) and the GDXJ (ETF for the junior or smaller cap gold miners) are, ironically, sporting mirror-image-in-reverse 30-minute charts. This phenomenon may be a function of several factors, such as the news overnight out of North Korea,...

05Jan5:08 pmEST

Stock Market Recap 01/05/16 {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...

05Jan3:18 pmEST

Now They'll Really Need That American Toughness

Whether or not F longs can be "Ford Tough" at critical, long-term price support remains to be seen In the face of rising car sales and headlines that the auto industry is "flourishing" today, Ford is trading lower over 2% at the time of this writing. Generally speaking, trading lower on "good" news is a bearish sign. But to be more objective...

05Jan12:31 pmEST

This is for Fighting This is for Fun

As noted earlier, we took profits in SWHC for Members early on the long side as they trade higher this week. However, with the bullish action in RGR SWHC becoming widely-discussed now across all forms of media, we could easily see a short-term shakeout before they go higher yet. We are opportunistically stalking a reentry now in the coming days...

05Jan10:30 amEST

I-Ran Away from Trading Crude Oil on Headlines

When a market has every logical reason to rally and yet fails to do so, it is typically a sign of the dominant technical pattern asserting itself above all else. Applied to the crude oil market, with the Iran/Saudi Arabia news over the weekend one would have thought that crude would finally be able to muster that sustained rally which many...

04Jan5:11 pmEST

Stock Market Recap 01/04/16 {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...

04Jan3:20 pmEST

An Intense Final Hour Look

Since making a late-morning low, the major indices have been grinding back up to the post gap-down highs after the opening bell. On the IWM, ETF for the small cap stocks in the Russell 2000 Index, for example, note the subsequent lower highs but higher lows intraday, seen below. We may not get resolution to this pattern today, but it is worth...

04Jan12:40 pmEST

Welcome to the "Tell" Club, Tesla

While it may be too easy to focus solely on the FANG names for market "tells" this year, Tesla is likely a better gauge for a few specific reasons. First and foremost, the momentum darling has essentially gone nowhere for roughly two years now, currently trading at levels it was back in February 2014. It is often said in the market that from...