Monthly Archives: January 2019
Showing articles 21 - 30 (51 total)
17Jan11:07 amEST
Still Chugging Along
Despite multiple opportunities for the broad market to roll back over from an obvious confluence of potential resistance levels (the 50-day simple moving average on virtually all of the major index charts, retracing up to range from late-last year from which we broke down in December, the big, rough 2,600 level on the S&P 500 Index, etc.), the...
16Jan3:56 pmEST
Back to Boring or Back in the Trap?
The indices seem to be plodding along here, with nary a worry about BREXIT developments, U.S. government shutdown, running directly into potentially devastation overhead resistance, nor some initially weak bank earnings. Indeed, the low volatility grind higher is reminiscent much more of a smooth bull market than a sloppy, violent bear--Unless,...
16Jan10:58 amEST
Time for Tech and MedTech to Back Up Their Big Talk
As we know, the relief rally since Christmas has largely centered around software strength as well as some M&A deals in biotechnology and overall strength in quite a few segments of healthcare and medical technology (medtech). At the moment, we have both the QQQ (large cap tech) and IWM (small caps) back above their 50-day simple moving...
15Jan5:08 pmEST
Stock Market Recap 01/15/19 {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...
15Jan3:24 pmEST
War Games
Lost in the shuffle of the strength in software and medical technology is the resurgent uranium miner, Cameco. On the updated daily chart, below, it is hard to quarrel with anything from a technical standpoint. CCJ is printing multi-month highs today on surging buy volume (bottom pane of chart). It is always a knee-jerk reaction to think of...
15Jan10:55 amEST
Adding Flavor to a Salty Market
Despite glaring underperformance by the small caps in the IWM ETF early on, quite a few tech stocks are bouncing back nicely from some really drubbings yesterday. PLAN, for example, a late-2018 IPO in the hot software space, sold off harshly into the bell on Monday but is managing a more-than-respectable 6% bounce-back as I write this. Still,...
14Jan3:57 pmEST
That's a Long Island for Ya
Be sure to check out the full Member video recap tonight for a follow-up discussion on natural gas and its ETF regarding the "island bottom" formation featured on the daily chart, updated below.
14Jan11:01 amEST
It'll Do Until the Mess Gets Here
Opening weakness in equities is being chalked up to a variety of causes, be it the government shutdown dragging on, poor overnight China data, or underwhelming earnings thus far into a brand new reporting season. Regardless of the actual proximate cause, though, the nature of the selling this morning is not yet violent enough to anticipate a...
13Jan2:58 pmEST
Weekend Overview and Analysis 01/13/19 {Video}
The following video is a brief, condensed version of the full-length Weekend Video Strategy Session which I present each weekend 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. Please click here for more...
11Jan3:41 pmEST
Welcome Back, Welcome Back, Welcome Back
Here comes natty, back over its 200-day moving average on its ETF daily chart below. Buying natural gas off support has worked well compared to buying breakouts since last Labor Day. Still it is worth looking at natty for a 200-day buy spot next week if the strength persists, especially now that many people forgot about it despite us being the...
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About
“chessNwine” has been a popular trader and financial blogger since 2009. His work has appeared in The Wall Street Journal Online Edition, Yahoo Finance, TheStreet.com, Josh Brown’s The Reformed Broker blog, AbnormalReturns.com, Barry Ritholtz’s The Big Picture blog, and the “Suggested” stream on Stocktwits.com.
