The Big Blue Sinkhole Shows Life

20Oct1:15 pmEST

America Loves a Good Comeback Story, Usually

It is what it is. You will excuse my lack of exuberance about Bank of America's stock reaching highs not seen since the October 2008 crash, as the firm was essentially insolvent and bankrupt. Nonetheless, in the name of "protecting capitalism," the mother of all bailouts (and a short-selling ban, to boot) seemingly enabled BAC to survive an...

20Oct10:48 amEST

I Want it Done By the Book

The price action in the KRE, ETF for the regional banking sector, below on the daily timeframe, is a pretty good example of the various uses of technical jargon we here nowadays. When the KRE staged an apparent post-Labor Day breakdown (lower set of yellow arrows). it appeared to be "Katy bar the door" time for longs, seemingly destined for...

19Oct3:56 pmEST

Stock Market Recap 10/19/17 {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...

19Oct3:54 pmEST

It Just Ain't So

Bears are still finding out that it is tough to protect a major selloff onto this uniquely resilient market, as dip-buyers did a pretty good job keeping the pullback shallow today. The $148.50 area on IWM and 2550 on the S&P 500 Index were levels we flagged early this morning for Members, in order to gauge the strength of this pullback, or...

19Oct1:40 pmEST

Hot Cocoa Season or Something Like That

Equities are mostly well off session lows as I write this, though the Nasdaq is still down by more than 0.5% and a further late-day slide can certainly not be ruled out. As always, on days like today we will be focusing for Members on relative strength outperformers in case equites immediately turn back up and burn bears again. I remain...

19Oct10:41 amEST

The Race is On

After sleepwalking for many trading sessions now, bears are at least trying to make things interesting this morning into a broad market gap down. Indeed, if we are to see some type of market correction before 2017 concludes, then the clock is ticking for bears to make that happen before we dig into the slow, low volume holiday portion of...

18Oct3:52 pmEST

Stock Market Recap 10/18/17 {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...

18Oct3:50 pmEST

Here Comes United Airlines

United earnings tonight, in addition to AA EBAY AXP URI STLD CCI, and a few other big ones. It will be interesting to see if UAL can put its rocky year (in terms of image, public relations, etc.) behind it and move on to keep up the technical process the chart has been attempting the last few weeks. Overall, IBM certainly boosted the Dow...

18Oct1:31 pmEST

Don't Feed HOG to the Hogs, Just Yet

The recreational vehicle segment within the discretionary/retail complex has generally been faring well of late, flying under the radar of many. We have profiled Camping Word (CWH) for RVs. But also note PII THOR WGO, even BC (boats) sporting firm charts. One of the more obvious laggards has been the iconic brand, Harley-Davidson Motor...

18Oct10:44 amEST

The Big Blue Sinkhole Shows Life

The Dow Jones Industrial Average is up by triple digits this morning, even as the Nasdaq Composite Index has intermittently been flashing red since the open. The Dow can thank, in large part, IBM ("Big Blue" as it known), for an earnings rally. Long-time readers will recall IBM is a name we had consistently been bearish on since around...