Making Sense of the Dancing Around

18May3:48 pmEST

The Almighty King

As we have been profiling for a while now, the U.S. Dollar is not dying an easy death, so to speak. With the greenback bouncing back sharply, commodities are finally taking it on the chin for a well-deserved correction--The issue is if and when they find buyers again, after a great couple of months. But when it comes to King Dollar, the...

18May1:00 pmEST

Minutemen Strategic Positioning

In front of the Fed Minutes coming out after 2pm EST today, from the last FOMC meeting, some interesting positioning is taking shape. Financials continue to snap back hard, while Treasuries are seeing their heaviest day of selling in a good while. Banks have been laggards, on and off, with prominent firms like GS and WFC suspiciously weak....

18May11:03 amEST

More Musical Chairs

The daily rotation attempts below the market's surface continue to play out today, with a game of musical chairs seeming like the most appropriate analogy to the current market environment. On a day-to-day basis, a given sector like the financials or biotechs may lag, only to them pick up the slack and lead higher like they are today. This type...

17May4:51 pmEST

Stock Market Recap 05/17/16 {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...

17May3:42 pmEST

That's One Way to Do It

After flashing green this morning, the small caps in particular illustrate how the selling in the market intensified this afternoon. What had been potentially an "inside day" on the indices appears to have morphed into bears reclaiming some initiative after yesterday's drubbing by bulls. On the IWM (small cap ETF) hourly chart, below, earlier...

17May1:00 pmEST

Everyone Loves a Good Comeback

Despite controversy about how safe the product may be, in terms of recipients of the "business end" of a Taser being actually harmed, TASR is up nicely today after several quarters of correcting and laying dormant. Taser, a heavily-shorted name, still may be capable of trading obviously to what the broad market does, as evidenced by today's...

17May10:51 amEST

Symbolism of the Transports

The price action in the transportation sector today is symbolic of the way in which this market has operated for a while now. Just when it appeared that bears had a chance to really inflict some damage, with the transportation sector average, below on the daily timeframe, rejected off its broken support trend (lower light blue line) yesterday,...

16May4:41 pmEST

Stock Market Recap 05/16/16 {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...

16May3:11 pmEST

The Fallout from Coffee

On a sizable upside reversal in the broad market on the back of Friday's weakness, it is suspicious to see both DNKN and SBUX red. Starbucks has been on the consumer leaders in the tape for many years now, arguably the poster child for an American consumer which never admits defeat and begs for mercy even when logic says the consumer has...

16May12:58 pmEST

Making Sense of the Dancing Around

In recent sessions we have seemingly alternated between individual "trend days" being up or down, which likely reinforces the notion that the market remains at a critical juncture from a long-term technical perspective. Bulls are convinced The Fed is on the correct path, there is no recession coming, and that sentiment is simply inconsistent...