Fall Into the Fall

26Aug3:04 pmEST

Setting a Trap for the European Invasion

The Euro has quickly given back its recent upside breakout, from the highlighted pennant on the FXE, ETF for the Euro against a basket of currencies, seen below on the daily chart. I am looking to see if the Euro/Dollar cross follows suit, falling back inside the pennant on its own chart. If so, the post-FOMC Minutes squeeze we saw earlier...

26Aug12:35 pmEST

The Storm Has Not Quite Passed Yet

Before I start filming my usual Midday Video for Members , it is worth a reminder that chart patterns can and often do morph. Case in point: The 15-minute chart of the small cap ETF, below, shows the larger triangle forming going back to last Friday. For all of the drama this week, thus far, the Russell is still searching for its next...

26Aug10:16 amEST

Avoid the Hot Air

In case the lesson has not already been drilled home, now would be a good time in the current market environment to cast a skeptical eye over any supposedly surefire guaranteed about what equities "must" do from here. Simply put we remain in atmosphere of elevated volatility, random, wild price swings, and overnight headline risk which is as...

25Aug5:19 pmEST

Stock Market Recap 08/25/15 {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...

25Aug2:15 pmEST

Top or Bottom

While daily timeframe analysis of the major indices will likely take some time to play out, the 30-minute chart of the small caps in the Russell 2000 Index ETF, below, show price at the apex of the triangle consolidation since last Friday. We are looking to see if a breakdown materializes, after small caps have been lagging the Nasdaq rally...

25Aug12:40 pmEST

The Makings of a Hangover

After the fireworks in recent trading session, this morning's gap higher gave way to some old-fashioned boring summer chop, with the market acting a bit hung over. The indices look to be grinding sideways, overall, with the Nasdaq leading while small caps lag. Solars, however, are snapping back hard, such as JKS. To be sure, they all remain...

25Aug10:28 amEST

Running Out of Time on the Season

The precious metals and miners received a rather strong season bounce earlier this month. However, with only a few trading sessions left in August, gold miners are following-through lower on a "bearish engulfing" reversal candlestick which the GDX, ETF for the senior miners, printed last Friday (blue arrows on daily chart, below). In addition,...

24Aug5:13 pmEST

Stock Market Recap 08/24/15 {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...

24Aug3:28 pmEST

Keep it Liquid in a Broken Market

The spreads are still cockeyed out there, and we have a fast market on our hands with signs of being broken. Keep it liquid, in terms of volume trades, with any instrument you trade, especially the ETFs (the levered ones even more than usual). Instead, shorting liquid ETFs is a better play than the inverses, in this environment. As with any...

24Aug1:44 pmEST

Fall Into the Fall

The market settled into a bit of a scrum through midday, as the morning fireworks wore off and the Nasdaq and Apple even flipped green. At the moment, I am keying off the small caps in the IWM ETF, see below on the 30-minute chart. We are still below $121.50, a prior key level which was a warning sign when we lost it last week. Currently, the...