MarketChess

27Sep10:18 amEST

Waiting for Things to Align Better

Another opening fade in both the small caps and especially the Nasdaq drives home the message just how choppy and indecisive the current market truly is. As we have been noting, this could be an "all of the above" function of end of month/quarter gamesmanship by fund managers, swirling headlines, shaking out bullish sentiment, or simply a...

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26Sep3:21 pmEST

Slow and Steady is Losing the Race

The small caps housed in the IWM ETF seem to be at a do-or-die area right now, as illustrated on the IWM hourly chart, updated below. On the one hand, the smalls have pulled back off their rally throughout early-to-mid September in a fairly orderly manner. In and of itself, that seems to be bullish, as we noted a while back.  But sooner or...

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26Sep10:44 amEST

Already Baked Into the Bowl

With the House passing the cannabis-banking bill, or the "SAFE Banking Act," on Wednesday, hope for pot stocks to regain their old form seemed realistic. However, as one of our Members noted this morning, we have the likes of ACB APHA CGC CRON TLRY acting sluggishly, at best. Perhaps the good news was already baked into the cake (packed into...

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25Sep12:05 pmEST

Stairs Up, Down, Left, Right

Another upbeat China trade war deal rumor sent stocks higher earlier this morning after a rather soft open for tech. To be sure, the lack of participation by software growth names continues to be a sore spot for bulls, especially a stock like COUP down 7% after holding up well compared to its peers for a while now.  Despite the Dow up...

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24Sep5:58 pmEST

Stock Market Recap 09/24/19 {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...

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24Sep11:06 amEST

Staying Relevant

With only a few more sessions left in the third quarter of trading, it is worth revisiting some downtrodden former glamorous market growth leaders. Specifically, Netflix, Roku, and Square have all taken on the chin in recent weeks and months. In the case of NFLX the damage started with seemingly innocuous pullbacks in July. With respect to SQ,...

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23Sep12:55 pmEST

Midday Analysis 09/23/19 {Video}

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20Sep11:00 amEST

Summer Into Fall, Make the Call

Today marks the last trading day of summer, with autumn in the Northern Hemisphere beginning on  Monday, September 23rd.  Although the post-Labor Day phase has been in gear for a few weeks now, and the Fed meeting is in the rear view mirror, stocks are still searching for a more definitive clue as to whether or not they should sustain a...

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19Sep2:47 pmEST

A Market Speaking with a Southern Drawl

Despite some promising stocks and sectors emerging, such as healthcare, not to mention a bullish upside reversal from an initial selloff after the FOMC yesterday, the reality is that the current market is still a bit too laid back, leisurely plodding along with the market equivalent of a pleasant southern drawl rather than a fast-talking New...

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19Sep10:49 amEST

Back to an Old Flame

Amid a choppy summer market, trade wars, Fed debate, software corrections, and oil volatility its the fact that the healthcare sector largely took a summer vacation. In other words, gauging the XLV (healthcare sector ETF) updated daily chart, below, we can see the late-summer chop amounted to a rather attractive base when it was all said and...

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