Turnarounds Seldom Turn

24Feb1:25 pmEST

Foot Locker: Turn That Retail Frown Upside Down

Markets are settling into a bit of a scrum into the weekend, with bears yet to push the envelope off the morning weakness (See: a red VXX as I write this). One bullish aspect of the action of late would be retail plays finally showing some heart, specifically in the face of yesterday's harsh selling in the sector. Recall how long the retail...

24Feb9:27 amEST

A Simple Test of Violence

As quaint as it may seen, the VIX ETF, VXX, has ben unable to hold over its 20-day simple moving average since Election Day. To be sure, I am not one to put too much stock in technical analysis of the VXX, since it is, after all, several times removed from equities. Still, the setup is simple, easy to track, and should give insight as to...

23Feb3:51 pmEST

Stock Market Recap 02/23/17 {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...

23Feb3:49 pmEST

It May Be Time for Solars to Finally See the Light

The First Solar reversal today, after yesterday's earnings drubbing, is nothing short of stunning when you consider how accustomed we have become to the usual solar heartbreak. Nonetheless, when you see a likely close today over $37, a level highlighted on the updated daily chart for FSLR, below, it offers some evidence of a potential bottom...

23Feb1:23 pmEST

Battle Lines Drawn for the Afternoon

Before I head in to film my usual Midday Video for Members, note the Nasdaq's top stocks in the QQQ ETF, below on an intraday timeframe, is toying with the $130 level on numerous occasions today. We looked at a longer-term view of the Nasdaq earlier. But, here, the intraday look shows the bounce off the morning lows may be setting up a new leg...

23Feb10:45 amEST

Tesla: Here Comes Your Throwback Test

After Tesla earnings last night, the resurgent momentum darling is coming back down to roughly the scene from which it broke out earlier this month. On the zoomed-out daily chart, below, note the down-sloping light blue line, stretching back to 2015, which kept a lid on the high beta, controversial stock for a good while. But with Tesla bulls...

22Feb3:53 pmEST

Stock Market Recap 02/22/17 {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...

22Feb3:52 pmEST

Time to Launch Tesla, Insane Mode

Tesla earnings headline tonight's post-bell action, with the momentum stock likely needing to hold $250 below to continue its constructive price movement since late-last year. In addition, Square will try to cement its newfound reputation as being Jack Dorsey's better half, in light of how dreadful TWTR has been. Fitbit has a pretty low bar...

22Feb1:41 pmEST

Frozen Sideways

Despite giveback in the energy, solars, and materials complex today, the rest of the tape is far from what bears have been expecting. As we head into the heart of the afternoon, the major indices appear to be frozen sideways more than anything else. A green Dow and the QQQ flipping green, too, as I write this may leave the door open yet to a...

22Feb10:45 amEST

Turnarounds Seldom Turn

Warren Buffett once famously said that, “turnarounds seldom turn," when it comes to businesses trying to right the ship. Regarding Mobileye after earnings this morning, however, if the "turn" is directed by the Israeli firm's self-driving software it may defy Mr. Buffett's general axiom. On the MBLY daily chart, below, we can see the progress...