A New Look for Q

08Jul1:25 pmEST

Update on the NYSE Situation from the Floor: It's Close

08Jul11:54 amEST

Buy on the Halt, Sell on the Default

We have got ourselves a new-fashioned suspension of trading this morning, with the NYSE halting trading of all symbols . As though you did not need another reason to play tight in this sloppy market, there you have it. Even mighty AAPL continues to weaken and may actually be in the midst of a true correction. In the meantime, corn and wheat...

08Jul10:24 amEST

A Less Generous Tape

With small caps losing $122.60 this morning, whose ETF is seen below on the 30-minute timeframe, I tightened up my portfolio even further inside Market Chess Subscription Services. To my eye, that $122.60 area marks a dividing line of sorts between whether yesterday's upside reversal marks the usual "V-bottom" signal, or instead is a trap to...

07Jul4:49 pmEST

Stock Market Recap 07/07/15 {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...

07Jul3:25 pmEST

Now They Need Confirmation

An abundance of upside reversals across many sectors, including beaten-down and oversold energy names, gave rise to a spirited rally this afternoon. Of course, all of the reversal "candlesticks" needs upside confirmation in order to amount to anything of substance, namely in names like CHK which have been in steep downtrend and are only now...

07Jul12:22 pmEST

Optical Illusions Taking Shape

Crude is reversing higher a bit here, from short-term very oversold conditions. The issue is whether it is worth the trouble to consider trading crude from the long side. And when we observe the updated USO daily chart, a retail proxy for crude as it is the ETF, we can see a potential "hammer" reversal candlestick being printed today. Of...

07Jul10:14 amEST

It Just Ain't So

"It ain't what you don't know that gets you into trouble. It's what you know for sure that just ain't so." -Mark Twain One concept which we have been discussing frequently inside Market Chess Subscription Services has been to not assume support. Oftentimes in a bull market, it becomes commonplace to aggressively buy "support" and assume an...

06Jul4:58 pmEST

Stock Market Recap 07/06/15 {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...

06Jul3:01 pmEST

Dawn of a New Day for Commodities

Although there may very well be a strong temptation to catch the proverbial "falling knife" here in crude oil's waterfall decline, it is worth noting that when multi-month consolidations in the context of bear markets (defined by declining longer-term daily chart moving averages) resolve lower, it can lead to an abrupt and violent decline to...

06Jul12:27 pmEST

A New Look for Q

Dip-buyers turned what could have been an ugly open, based on the initial move down in the futures last evening for U.S. equities, into what feels like a run-of-the-mill dip-buying frenzy. And, yet, when we observe the updated 30-minute chart of the QQQ, ETF for the Nasdaq-100, we can see a lack of a "V-shape" rally, which we have seen so many...