A Nice Range Into Fall

25Sep12:41 pmEST

Context is King

Since the violent but trend-less price action in the broad market since a sharp sell-off in August, it is more important than ever to focus on staying objective and putting all theses about where the market goes from here into context. Indeed, staying out of trouble in a market climate where huge drawdowns are now the rule for traders, rather...

25Sep10:50 amEST

Bending But Not Breaking

Another Nike earnings beat is helping the Dow Jones Industrial Average hold its morning gains, up nearly 185 points as write this. In addition, banks and semiconductors are bouncing back from mildly oversold conditions we saw yesterday. However, the biotechnology and small market capitalization issues in the IBB and IWM, respectively, are both...

24Sep4:58 pmEST

Stock Market Recap 09/24/15 {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...

24Sep2:56 pmEST

Whoever Spoke Last Set Off the Blast

Amid plenty of interesting moves in commodities today, in front of a Yellen speech tonight, natural gas is printing a fairly textbook reversal to the upside after its inventory report this morning. Upside follow-through to the bottoming candlestick highlighted with arrows on the ETF daily chart, below, is, of course, necessary (even if not...

24Sep12:31 pmEST

A Nice Save

After some ugly price action yesterday, gold miners found buyers this morning for a gap higher. On the GDX, ETF of the senior gold miners, daily chart, below, note the horizontal light blue line provides well-defined support around the $13 level. While GLD and SLV, the ETFs for the gold and silver metals, respectively, are nearly or already...

24Sep10:44 amEST

Not So Fast, My Friend

Stocks are pushing lower yet today, with apparently too much traders expecting the usual snapback rally which the market has generously conditioned them to expect in recent years. That generosity, however, may very well prove to be fool's gold, as I suspect plenty of those prior gains have already vanished, and will continue to do so at a rapid...

23Sep4:56 pmEST

Stock Market Recap 09/23/15 {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...

23Sep2:46 pmEST

An Ambush in the Oil Market

While equities drift today, as the S&P 500 Index is seemingly stuck in a 1930-1950 range now, crude oil sharply reversed lower after popping immediately following the inventory report this morning. On the updated daily chart for the USO, ETF for crude oil, below, note the triangle consolidation for nearly the past month is at risk of breaking...

23Sep12:33 pmEST

The Futures Ain't What They Used to Be

After reversing the reversal of a reversal (probably off another reversal) off the futures last night, the cash market today is back in the red as I write this, with small cap stocks leading lower. Bears likely need to start pressing soon, or we are likely to see yet another late-day bump, as we have been seeing of late. Overall, the market is...

23Sep10:19 amEST

A Nice Range Into Fall

An overnight spike lower in stock index futures has more or less been erased, as the major averages are currently hugging the flatline. Biotechs tried to bounce at the open but were immediately sold, again, into strength, and are currently lagging many sectors and indices. As for intraday context, I noted on private feed not long ago inside...