Bulls Have Got Some NERV

10Sep12:53 pmEST

Saturday Night at Market Chess Cinemas

At first blush, I was a bit skeptical that Hell or High Water (2016), just released and currently in theaters, would fail miserably in terms of running a similar style, setting, characters, and storyline to No Country for Old Men (2007). The latter remains an all-time excellent film, on par with just about anything made over the last two...

09Sep3:46 pmEST

Squirrel Away for a Further Pullback

At some point we knew the major averages would experience an actual price pullback in lieu of grinding sideways. Timing that moment has been an extremely difficult task for bears, however. But with today's sharp sell-off in equities, it appears to be in play more than that at any time since Brexit. On the SPY daily chart, below, for example,...

09Sep12:58 pmEST

Piecing the Rates' Puzzle Back Together

In my usual Midday Video for Members, coming up, we will do a refresher on the "Rates" trade and its various correlations. For now, note that the defensive sectors continue to get drilled along with TLT as rates rise. The other side of that equation is the action in financials, which typically can do well with higher rates. Beyond that, the...

09Sep10:29 amEST

The O'Reilly Factor is On

This morning's weakness off the Fed Rosengren's hawkish rhetoric is seeing the S&P 500 Index test its 50-day simple moving average for the first time since early-July. We know we have been dealing with a choppy, grinding market at times, since the early part of the summer off the Brexit fireworks. But now comes a good test, as the 50-day is...

08Sep3:51 pmEST

Stock Market Recap 09/08/16 {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...

08Sep3:50 pmEST

Don't Forget: This is Some Good Coffee

Lost in the shuffle of the AAPL TWTR and crude oil headline so far this week is the resurgence of coffee. Coffee (ETN ticker is JO) is finally taking a break today, which I view as something to be watched carefully for a lower risk entry. On the JO weekly chart, below, a rare but powerful "rounded bottom" pattern still looks to be very much...

08Sep1:18 pmEST

Rotation Over the Years

Given the explosive rally consumer staples, the prototypical "defensive" stocks, have seen since the 2009 bear market lows, it is understandable that the inevitable unwinding of that seemingly crowded trade would take some time. Indeed, the XLP, staples' ETF, has enjoyed such a one-way, explosive monthly chart uptrend since 2009 that one could...

08Sep10:45 amEST

Markets Make Strange Bedfellows

It may be difficult to fathom, but both AAPL and TWTR are technical bedfellows at the moment. Specifically, both continue to deal with the inevitable turbulence associated with attempting to emerge from multi-quarter, corrective chart patterns of lower highs and lower lows by price. Apple is selling off after yesterday's iPhone 7...

07Sep3:41 pmEST

Stock Market Recap 09/07/16 {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...

07Sep3:38 pmEST

Bulls Have Got Some NERV

Dips remain extremely shallow, overall, which may very well galvanize speculators to take a stab at riskier stocks beyond the FANG gang. Minerva Neurosciences, Inc., below on the daily timeframes, is a likely candidate. Ever since topping out in June, the biotech has been sporting an attractive base consolidation, especially impressive...