Outback: Australian for Relative Strength

15Jun1:35 pmEST

Bad News for Disney

Disney seems to be under distribution, and I do not mean it is distributing one of its feature films to movie theaters across the country. Instead, observing the daily chart, below, DIS seems to be undergoing heavy selling by institutions, as seen by the heavy and steady sell volume bars on the bottom pane of the chart. The drawdown that ESPN...

15Jun10:36 amEST

Stocks Have Suddenly Become a Bunch of Soxists

The Philadelphia Semiconductor Index (or "SOX"), below on the monthly timeframe, may finally be reacting to the massive and legendary overhead supply from the Dot-Com bubble of Wall Street yesteryear. There is a whole can of worms to that argument, though, where many contest the idea that overhead supply (or likely, interested sellers derived...

14Jun3:39 pmEST

Stock Market Recap 06/14/17 {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...

14Jun3:37 pmEST

Does "Don't Fight the Fed" Only Apply When Bernanke Was Doing His Thing?

The Bernanke years as Fed Chair are beginning to fade away now, as Janet Yellen continues to slowly tighten. At one point, Dr. Bernanke could seemingly do no wrong in the eyes of markets, as his easy monetary policies made even Alan Greenspan blush. "Don't Fight the Fed," is an old Wall Street axiom considered perhaps too general but often...

14Jun1:22 pmEST

A Dovish Raise Looms

The Fed is expected to raise rates this afternoon, at the bottom of the hour to be precise. However, given that this FOMC will feature Fed Members' forecasts plus a Yellen presser, we could easily see plenty of dovish language to couch any rate hike, in effect keeping markets satiated. We have been tracking the rate-sensitive sectors of late,...

14Jun10:32 amEST

An Interesting Head Start

Amid a quiet open for most equities, it is interesting to say the least for Treasuries to gap up in front of the FOMC later today. On the TLT daily chart, below, with this ETF pushing up and off its 200-day moving average it would seem to price in the Fed not being particularly hawkish today, even if they do raise rates. Specifically, the...

13Jun3:52 pmEST

Stock Market Recap 06/13/17 {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...

13Jun3:49 pmEST

Gambling in Front of the FOMC

On an otherwise slow-bouncing market into the Fed fireworks tomorrow, with some distraction via the OMER TSLA rallies and the gold miner divergence we looked at earlier, we saw some intriguing sector rotation again below the surface. The casinos, and not just the major ones, are heating up. As an example, the "locals" Vegas casino operator,...

13Jun1:26 pmEST

Precious Screams for Pleasure or Pain

We are not likely to get any type of resolution in the precious metals and mining complex until after the FOMC tomorrow, if at all, to the now-glaring divergence between the weak silver metal versus the suddenly firm junior gold miners. But you can be sure we will be paying close attention to how the complex reacts to the Fed's decision,...

13Jun10:39 amEST

Outback: Australian for Relative Strength

Cheesecake Factory, Inc., is one of the more visible losers this morning, as the causal dining chain notorious for long wait times and heaping portions of high carbohydrate dishes updated poor guidance this morning. While CAKE is down more than 10% as I write this, we ought not throw the entire causal dining baby out with the tap water. ...