You're No Different Than a Criminal

23Apr12:14 pmEST

Battling the Levels

Facebook and Caterpillar are both giving up their earnings gains this morning. In particular, we had $84.39 as a key level this morning to see if the pullback would hold and offer an actionable long entry. Instead, buyers failed to show up and here we are at midday with FB looking rather sloppy, seen on the 30-minute chart, below. On a more...

23Apr9:42 amEST

Old Autos and a Big Cat

GM is gapping down this morning, as they chart remains corrective since a strong start to 2015. If this gap down pauses enough to flag out a bit today or tomorrow, I view this as a looming short setup. And the big CAT, Caterpillar, second daily chart, is trying to find relief from its downtrend, which it has been in for a while now. Watch to...

22Apr5:02 pmEST

Stock Market Recap 04/22/15

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. Please click here for more details about...

22Apr2:42 pmEST

Emerging Market Temptations

Petrobras has a similar chart setup, seen below on the daily timeframe, to many other energy stocks out there right now which we are looking today. PBR also has, of course, emerging markets exposure. And in addition to Brazil (EWZ) China (FXI) is pushing higher yet again. I see some setups developing in this space, too. For now, PBR above the...

22Apr12:17 pmEST

A Good Look at Bouncing Along

As we have seen with the likes of AAPL FB of late, bulls seem unfazed even as price leans down against well-defined support. YHOO is another example of this circumstance, post-earnings against that $44 level. If buyers can keep defending it, then the key remains the sideways channel (light blue lines), and no short trade despite the tempting...

22Apr9:37 amEST

A Big Test for This Burrito

A good test this morning to see whether the CMG negative earnings reaction is an exaggerated one is to see if it can respond to the gap-fill from April 9th, at around $654.40. CMG is gapping below the gap now. And I am looking to see if buyers are responsive for at least a quick scalp. If the selling intensifies under $650, then it is likely...

21Apr5:04 pmEST

Stock Market Recap 04/21/15

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. Please click here for more details about joining ...

21Apr1:39 pmEST

CANCEL ALL WARRANTS! We Have Ourselves a Scapegoat

As Zero Hedge noted within the last hour, on an otherwise slow market post-morning gap into the afternoon, we have ourselves a scapegoat for the Flash Crash on May 6th, 2015, a cool five years after the fact. Regarding the tape, cybersecurity is still in play on the long side, as are other techs, while UA has not tested its 50-day moving...

21Apr11:33 amEST

Golf and Gals

In recent sessions there seems to be some rotation down to specialty retail plays like ELY (Callaway Golf Company, for golf of course) and RICK (Rick's Hospitality Holdings, for "gentleman" of course). If both niche names can now digest these gains well, they may be setting up for longs later this week. Note, however, that ELY has earnings on...

21Apr9:29 amEST

You're No Different Than a Criminal

With FTNT gapping up, cybersecurity stocks are back in play, apparently. I am looking to see if the initial pop and hold not just for FTNT, but for related issues as well. The markets look to be fighting back against hackers, worldwide. UA is coming in a bit after earnings, but given the run the stock has been heretofore, a little giveback is...