A Sliding Scale of Prices

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...

04May10:45 amEST

Travel Loses Its Luster

Priceline is cratering below $1300 after earnings this morning, which had marked the upper end of a massive, sloppy range the online travel discount website. To see a marquee leader like PCLN remain trend-less for so long has been a bit odd, after a multi-year bull run. In fact, for more than two full years now the stock has gone essentially...

03May4:47 pmEST

Stock Market Recap 05/03/16 {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...

03May3:43 pmEST

Keeping Things Balanced

After breaking below fifteen-month support, the U.S. Dollar ETF, below on the daily timeframe, is printing a bullish engulfing candle today, perfectly coinciding with commodities and commodity stocks coming in. Also note equities in general seem to not be so high on the Dollar bouncing back, despite rallies and news in some beat-up names like...

03May1:05 pmEST

Pay Your Dues Before Summer Really Begins

Much like the weather in the northeast today, summer is not quite here yet. And when it comes to the global materials and commodity complex, the same may very well be true despite a riveting rally since the winter months. Emerging markets, for example, not unlike the energy sector, could easily be in the process of putting in a long-term bear...

03May10:48 amEST

Chase the Chasers

We have some nasty whipsaws taking place across several markets this week, with equites gapping, in many case, free and clear below the apparent bull victory seen during yesterday's rally. Goldman Sachs, a premier financial firm, is a good example of the above, sporting strength yesterday to the delight of bulls only to give up the ghost, and...

02May4:49 pmEST

Stock Market Recap 05/02/16 {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...

02May3:36 pmEST

Don't Trap Yourself

Without question, the precious metals miners have trapped a good amount of shorts since mid-January, when an apparent breakdown to fresh bear market lows suddenly reversed higher and, basically, did not so much as look back in the rearview mirror to see if the predator-turned-prey DUST/JDST holders still had a pulse. Seeing as it is now May,...

02May12:53 pmEST

Not Quite the Memorial Day Massacre

Crude oil is finally seeing a bit more material weakness today, for the first time in a while. I still view the $10.80 level on the USO (ETF for crude oil) as being the logical downside level for bulls to now defend after they prevailed for a base bottom upside breakout in April. As we know, crude bulls overcame the lack of a deal in Doha and...

02May10:47 amEST

A Sliding Scale of Prices

We have a pretty sloppy bounce in play this morning, with biotechnology and healthcare issues notably lagging. To be sure, the VRX sell-off in light of the roasting the firm endured over the weekend in Omaha is not likely helping the bull case. But the larger issue is still a general lack of leadership in the market, beyond AMZN and FB. That...