Formulate a Battle Plan for This Sector

16Sep1:30 pmEST

It's a Crazy Ex Kind of Day

The SPY, actively-traded ETF for the S&P 500 Index, goes ex-div today, which means the SPY being down more than 1% as I write this is not quite as bad as it looks. For reference, consider the actual S&P cash Index, below on the 30-minute timeframe, which is down a little more than 0.50% at the moment. So, there is a bit of a discrepancy at the...

16Sep10:39 amEST

Tony the Gluten Tiger is Played Out

Consistent with the recent theme of "safety" sectors unwinding amid higher rates, Kellogg Company looks ripe for further downside. Barring a buyout by a larger food company, the daily chart for K, below, has been bouncing poorly since its latest downdraft last week. Given the continued relative weakness in the defensive sectors, it is likely...

15Sep3:42 pmEST

Stock Market Recap 09/15/16 {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...

15Sep3:41 pmEST

Negotiating Overhead Danger

Perennial high beta heartbreakers FIT an GPRO are enjoying furious short squeezes into today's broad market rally, once again offering hope for trapped (and bottom-fishing) longs. FIT is an name we will look at for Members in the full recap tonight, but GPRO offers up a rather pronounced chart setup, seen below on the daily timeframe. Note...

15Sep12:52 pmEST

A Good Combo

Both natural gas and the refiners are coming on nicely today. After the natty inventory report this morning, the UNG ETF is inching up to the key $8.60-$8.70 area, seen below on the updated daily chart. Also note refiners TSO VLO are coming on a bit, too. WNR and DK are also firm. Both natty and the refiners make for an interesting...

15Sep10:25 amEST

Gold Miners Set Up for a Memorable Trap from These Heights

It seems like an eternity ago, but in the summer of 2009, several months after stocks had bottomed for good after an epic bear market, the S&P 500 was triggering an apparent and ominous head and shoulders daily chart top. Since then, head and shoulders patterns have failed plenty of times, as is the norm in any bull run but especially in this...

14Sep3:44 pmEST

Stock Market Recap 09/14/16 {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...

14Sep3:41 pmEST

More Like Wells "Fargo," Am I Right?

Through no fault of its own, shares of Wells Fargo are getting pulled into the wood chipper (the disturbing scene from the great film here , for reference). Given Mr. Buffett's self-proclaimed ruthlessness for anyone who dare undermine the integrity or reputation of Berkshire, I wonder how he will react to WFC's apparent betrayal of customer...

14Sep1:13 pmEST

Organized Chaos

Stocks are still sporting a mild bounce into the early-afternoon portion of the session. It sure seems obvious that the S&P 500 is forming a double-bottom, seen the 30-minute chart of the SPY, below. However, the concern would be that it may be too obvious, with too many eyeballs on it and not enough traders positioned for further downside. So...

14Sep10:44 amEST

Formulate a Battle Plan for This Sector

Bulls still have more work to do to prove that equities have, by and large, concluded their recent pullback. 2120 on the S&P 500 Index is now a fairly obvious level of support which held, once again, this morning off an initial fade. As I write this, I see we are gaining steam to the upside but having some initial issues at 2140. Crude oil is...