The Action is the Juice

06May3:00 pmEST

Red Auerbach on Defense

Defense has so much to do with the current market, regarding trading and strategy. Today, for example, after a lousy jobs number, a weak AAPL, some horrific earnings sell-offs (DATA FEYE GPRO), and a general drift lower since Monday, bulls appear to be initially defending the 50-day simple moving averages on the S&P 500 and Russell 2000...

06May12:59 pmEST

Lyin' CRUS Logic

The persistent weakness in Apple jumps out from the tape today, with AAPL all of its minor gains from a bounce attempt mid-week, and then some. Apple remains a bearish chart on virally all timeframes, with the name back below its prior 2012 highs, to boot, calling into question a good deal of gains from its 2013-2015 rally. With this in mind,...

06May10:46 amEST

Overkill

Barring a buyout (with a hefty premium) or some type of change which actually works, stocks like FIT GPRO, even FEYE, are good reminders that some things in this world are broken and are not meant to be fixed--Leaving them be is often the best play. The amount of pure destruction of capital and confidence sustained by bottom-picking bulls in...

05May4:42 pmEST

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

05May3:14 pmEST

The Color of Money

Headed into another batch of earnings tonight and the jobs number tomorrow morning, equities are mixed. The drift higher this morning turned into a drift lower in the afternoon, with retail and transports the notable laggards weighing down bulls. Biotech did reverse well off the IBB XBI lows. But as we saw earlier in the week bulls are going...

05May12:52 pmEST

Timid, But Still Present

The slow market action this morning is spilling over into the New York lunch hour, as retail, transports, materials, and biotech lag. Bulls have, however, largely blunted any aggressive downside action despite the glaring laggards and the overall narrow patch of leadership. Even with TSLA reversing hard into the red, for example, buyers...

05May10:37 amEST

The Reevaluation Stage

Much like our analysis regarding PCLN yesterday after earnings, this morning after its own earnings Tesla Motors compels us to take a look at the leader on multiple timeframes. First, just like PCLN, Tesla has gone, net-net, nowhere over the last two years. Specifically, TSLA is trading at the same price today it was in May 2014. So, despite...

04May5:18 pmEST

Stock Market Recap 05/04/16 {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...

04May3:38 pmEST

Remember Me: Benny Blanco from the Backtest?

After PCLN's negative earnings reaction this morning, bulls are looking for TSLA (and WFM and FIT) to salvage the current sell-off with earnings of their own after the bell, tonight. Many leadership names continue to sport less-than-stellar charts, aside from the two monsters here: AMZN and FB. True, a name like BSX in the medical device...

04May12:52 pmEST

The Action is the Juice

The action in the Russell 2000 Index in recent weeks continues to give us excellent context and perspective in terms of making sense of the recent market whipsaws. Bulls are looking for yet another false breakdown here. But with the IWM, ETF for the Russell, losing $111 this morning and holding below it as I write this, bears look to have...