MarketChess

Showing articles 31 - 40 (5817 total)

29Apr10:57 amEST

Bull Markets Climb a Wall of Worry; Bear Markets Slide Down a Slope of Hope

To quickly recap the action among Dow Jones Industrial Average components this week, MSFT and V both rallied after earnings. CAT is in an uptrend and bouncing off its 200-day moving average, green here. And AAPL is holding above $160 as we speak despite multiple bear raids to break it.  Despite all of that, the Dow itself, below on the DIA ETF...

28Apr10:05 amEST

Wowee! Zuck is the Best!

You will pardon my sarcasm as I am wholly unimpressed with "Meta" (rebranded from Facebook, which historically is a classic sign of a mature brand and usually near major cycle peaks for former market leaders) rallying off earnings last evening. We are talking about a stock which has been more than cut in half since last September. And now we...

27Apr4:19 pmEST

Stock Market Recap 04/27/22 {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...

27Apr10:55 amEST

Stiff Resistance Requires a Stiff Drink

Despite some positive earnings reactions from CMG MSFT V, the market has struggled to build on opening gains. In fact, we flipped red earlier, although look to be back in the green on the indices as I write this.  Still, the QQQ ETF for the Nasdaq's top 100 stocks, below on the updated daily chart, shows the $322 actually acting as stiff...

26Apr2:55 pmEST

Testing the New World

While Alphabet (GOOGL) and Microsoft (MSFT) are, easily, the largest and most visible firms reporting earnings tonight after the bell, I would argue that Chipotle Mexican Grill, Inc., (CMG) and Visa (V), respectively on their weekly charts, below, may very well offer better insight into the current debate playing out between bulls and bears as...

26Apr10:44 amEST

Sliding Down the Slope of Hope

A bull market will climb a wall of worry, while a bear market will slide a slippery slope of hope.” -Old Wall Street Proverb Yesterday's intraday reversal and subsequent upside bounce apparently spawned off more Elon Musk headlines looks to be fading fast today, as even Mr. Musk's flagship TSLA is off by more than 9% as I write this. ...

25Apr3:23 pmEST

Looking for Solid Support

While I have my doubts about tech and growth, with the large majority of those stocks and sectors below 200-day moving averages, the commodity complex holds much more of my interest into this pullback.  As you know, most commodity stocks are in uptrends, above 200-days, and the shakeout of late has seen a bunch of names like FCX, LAC, MP, all...

25Apr10:05 amEST

The S&P Has No Business Being Above 4,000 Right Now

CNBC's Bob Pisani was boasting about how loyal ARKK's shareholder base was this morning, as he inferred from the lack of shrinking shares outstanding that Cathie Wood's believers were firmly intact. While I agree that Ms. Wood has her loyal band of holders, it is important to note that Wall Street history tells us that strong bear markets, as...

24Apr9:41 amEST

Weekend Overview and Analysis 04/24/22 {Video}

The following video is a brief, condensed version of the full-length Weekend Video Strategy Session which I present each weekend 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...

22Apr11:25 amEST

Head and Shoulders Tops Never Work, You Guys

...except when they do. Since the 2008 and even 2000-2002 comparisons by now are a bit played out, let us examine the summer swoon of 2011 (which actually lasted deep into autumn) for reference. The first chart, below, is the weekly chart for the S&P 500 Index from the year 2011, showing about a is month topping process yielding a sharp head...

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