No Fumble from Macy's This Time Around

25Apr1:09 pmEST

Shall We Play a Game?

As we scout a corrective and, frankly, tired-looking market for relative strength outperforming issues, it strikes me as interesting that the aerospace/defense mid-cap play, KLX Inc., continues to act well. While big, bad Boeing (BA) gets most of the attention (understandable today due to earnings), KLXI is the more intriguing long play not...

25Apr10:36 amEST

A Better Deal, Where You'd Least Expect It

While conventional wisdom among speculators early this week dictated that a resurgence in the crypto space could easily gain steam as equities struggle, a casual glance at the Bitcoin Investment Trust (GBTC) weekly chart, first below, reveals that Bitcoin is far from out of the woods since topping out just before last Christmas. At a minimum,...

24Apr3:52 pmEST

Stock Market Recap 04/24/18 {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...

24Apr3:50 pmEST

Only the 1990s Can Save Us Now

Rough day for bulls virtually all the way around, especially considering the "sell the good news" GOOGL reaction, as well as SQ dumping out hard. A bright spot is the 1990s nostalgic play, GES, below on the daily chart. We have flagged this one recently for its relative and absolute strength, which persisted today. Earnings are still nearly a...

24Apr1:57 pmEST

Don't Buy Anything!

This seems like a good reminder to replay Jimmy Conway's speech, although I am still not convinced we are entering a brand new bear market. As demoralizing as I am sure today's price action is for bulls looking for a fresh run back to new highs, as I noted earlier we could simply experience a third wave down of selling like in GOOGL before...

24Apr10:51 amEST

A Migration Downstream

Despite Google/Alphabet turning in solid earnings last evening, the market's reaction this morning suggests buyers are out of gas for now in a major, marquee Nasdaq leader. While it is true that cherry-picking a single earnings reaction as prima facie evidence of a major top or change in trend is a bit too dramatic, this morning's nearly 4%...

23Apr3:38 pmEST

Stock Market Recap 04/23/18 {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...

23Apr3:31 pmEST

Gold Bugs Might Want to Listen to Led Zeppelin

Gold bugs need to avoid the the allusion made by the famous Led Zeppelin song, "Fool in the Rain," about waiting for someone but in the wrong spot. In this case, gold bugs have been waiting for inflation and a new gold bull run. But if the U.S. Dollar keeps rallying they had better rise to the occasion into the pullback we are seeing in the...

23Apr1:06 pmEST

Thar She Blows!

The major averages continue to operate in a grinding range, in a bit of a holding pattern today in front of what is likely to be the busiest macro and earnings week of the spring, staying with Google/Alphabet tonight, not to mention with rates moving higher yet again. Select equities are acting well, but I am reticent to press longs until I...

23Apr10:32 amEST

No Fumble from Macy's This Time Around

A remarkable but seemingly under-the-radar relative strength chart during the recent market uncertainty has been the iconic department store, Macy's. Macy's has been in a devastating downtrend since 2015, at one point in the conversation among retail bears (and/or Amazon bulls) to go to zero. However, as you can see on the daily chart, below,...