Sunday Matinée at Market Chess Cinemas

24Oct3:53 pmEST

This is Really Gonna Hurt

Simply put, this market still smacks of complacency much more than a buy-the-blood scenario, as the VIX has barely shot up today (by its own standards, not a percentage move), and remains in the low/mid-20s even though equities thoroughly got stuffed in any and all bounce attempts. With the belly of the earnings beast approaching, I suspect...

24Oct10:25 amEST

The Naz and All That Jazz

One of the first observations we made with Members out of the gate this morning was that the Nasdaq was notably lagging the other major averages. If bulls did not fix that situation sooner than later, we were looking to see if the rest of the market would give up any semblance of an early bounce and head on lower, especially given that the...

23Oct4:12 pmEST

Stock Market Recap 10/23/18 {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...

23Oct2:16 pmEST

Appreciate the Full View

The Wilshire 5000 Total Market Index, below on the weekly timeframe, measures performance of all U.S. equity securities with readily available price data. In other words, the Wilshire arguably gives the ultimate birds-eye view of the market at any given time. Despite the bounce off session lows today, which is holding so far, it is worth noting...

23Oct10:29 amEST

Sink or Swim Mentality for a Sink or Swim Market

"sink or swim" - to fail or succeed entirely by one's own efforts Speaking from experience, corrective markets often magnify the flaws in many traders' strategies and discipline (or lack thereof). Indeed, downtrending markets are unforgiving and, at times, ruthless in their aggressive price discovery mechanisms in terms of running traders out...

22Oct3:53 pmEST

Stock Market Recap 10/22/18 {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...

22Oct3:47 pmEST

Can You Lay Off the Action?

No one travels to the casino with the intention of folding hand after hand in poker, nor to walk away from a cold blackjack table. But such is life as a speculator, where the action is soggy and most trades seem like a reach. At times, the best trade is no trade, and laying off the action can seem like one of the best trades to make in lieu of...

22Oct2:21 pmEST

Getting Way Down There

As per our morning discussion, the weakness in financials may be getting plenty of attention but we ought not overlooked the glaring, continued selling in the homebuilders. With this in mind, let us examine the XHB ETF for another perspective to see that the XHB's monthly RSI is now at its lowest point since 2009. On the monthly...

22Oct10:47 amEST

Lonely Homes; But Misery Loves Company

Housing bulls must be feeling awfully lonely these days, as the XHB and ITB sector ETFs have performed remarkably poorly over the last month. In fact, you might argue that the housing sector's abrupt (back in September) but now-persistent weakness is causing a good deal of consternation among the broad market, too. Either way, it behooves us...

21Oct12:33 pmEST

Sunday Matinée at Market Chess Cinemas

The Wrestler (2008) is easily the finest work of Mickey Rourke's career, as he excels in a low budget but high quality production. To be frank, I have never been much of a fan of WWE, but it would be a mistake to pass up this film. You are talking about great storytelling, acting, and universal themes all in play. The film makes you care...