Losses Pile Up at the Barclays Center of the Universe

29Jun1:08 pmEST

Gobbling Up the Oil Spill

After inventory this morning, it is impressive to see crude oil continuing to rally. On the USO ETF daily chart, below, note Black Gold recapturing the 200-day moving average. With this in mind, I continue to look to see if TLT will fade its post-Brexit rally, as USO and TLT can often move in different direction. And energy leader XOM is...

29Jun10:54 amEST

Look But Don't Touch

As tempting as it may be to try to time a rollover in the market after the post-Brexit bounce, observing the QQQ hourly chart, below, we can see there is some room to move up to just below $106.40 before one would get more serious about potential supply. Even then, there is the prospect of the long, patriotic holiday summer weekend, end of...

28Jun4:37 pmEST

Stock Market Recap 06/28/16 {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...

28Jun3:35 pmEST

Nike Comes Full Circle, Like LeBron

Not too long ago, Nike signed LeBron James to a lifetime deal rumored to be worth more than $1 billion. Ironically, NKE's stock may have played a similar role LeBron did over the last six years or so in Cleveland--From hero, to villain, back to hero. Nike was a clear consumer hero for years on end, with an explosive and unstoppable bull trend...

28Jun1:13 pmEST

A Gothic Take on the Euro's Structure

If you like to think in terms of risk-to-reward, the notion of the Euro potentially becoming extinct should at least be entertained (if only to then be dismissed for a variety of reasons). But if the Brexit vote is categorically not an isolated event, and in fact sets off a chain reaction of other EU member nations seeking to exit, the Euro's...

28Jun10:48 amEST

It's How They Close It

As we saw last Thursday, even the strongest of closes can still be deceiving. Nonetheless, playing the odds it is typical for a corrective market to open impressively with a gap up, such as what we are seeing this morning, only to disappoint newly-minted bottom-fishing longs with a sudden reversal in the afternoon to finish poorly. Thus, if...

27Jun4:48 pmEST

Stock Market Recap 06/27/16 {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...

27Jun3:00 pmEST

Complacency in Its Nascency

Back in the summer of 2011, there were several trading sessions where the Dow suffered steep selling, yet the VIX was red. This persisted for a bit before the VIX finally got the message and spiked up to 48. The reason why I raise that issue is due to the actual VIX soundly getting whacked today, despite the S&P 500 below 2000 and the Dow down...

27Jun12:58 pmEST

Withstanding the Barrage

Sugar and soybeans, two of the better soft commodities in 2016, are bouncing back nicely today after recent pullbacks. If soft commodities as a group will continue their resurgence this year, I suspect sugar, whose ETN is below on the daily, will be out in front of the pack. Considering the strength in the U.S. Dollar again, it is worth...

27Jun10:41 amEST

Losses Pile Up at the Barclays Center of the Universe

In light of the Brexit vote and, more importantly for market players, the subsequent reaction by equities, the giant European banks continue to represent systemic risks in such a way we have not seen in years. Three of the main ones: BCS CS DB, are all getting drilled again this morning. We are not talking about 2-5% pullback, either. Instead,...