Sector Foliage

07Oct2:40 pmEST

Three-Card Monte Market

As the S&P 500 Index continues to deal with its first 50-day simple moving average test since August, we are seeing a three-card monte rotation game below the surface. Capital has been shifting back-and forth-between the perennially weak industrial/materials/energy complex and the suddenly beaten-down biotechnology and healthcare space. Come...

07Oct12:41 pmEST

Lining Up for the Same Shot

It may seem a bit too obvious, but the S&P 500 Index is reversing roughly where it did back on the FOMC reversal day on September 17th. On the daily chart of the S&P ETF, below, note the arrows pointing toward the prior an current examples. With several hours left to go in today's session, and biotechnology stocks staging a sharp reversal off...

07Oct10:32 amEST

They're Getting Beat Making a Run for the Border

In the wake of Yum! Brands taking it on the chin after earnings, with China concerns a major drag, it is worth noting that the Taco Bell owner hd already bee sporting a very steep up-trending must-year chart. The monthly chart for YUM, below, illustrates that point, as the stock has been in a strong uptrend since the turn of the century. ...

06Oct4:46 pmEST

Stock Market Recap 10/06/15 {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...

06Oct2:38 pmEST

Careful with That Silver Spoon

The close in the silver ETF today, pictured below on the daily timeframe, should be a big one as the precious metal gaps up to both its declining 200-day moving average as well as above its upper Bollinger Band to overbought conditions. As you can see, silver has confirmed an inverse head and shoulders temporary bottom. But the key is now...

06Oct12:34 pmEST

Follow the Sky Down

Lost in the shuffle of the biotech carnage, again, today, is momentum darling semiconductor SWKS getting whacked again. With this in mind, an earlier idea from this morning inside Market Chess Subscription Services was to short another darling in the sector, NXPI. On the daily chart, below, note the NXPI setup as price remains below all major...

06Oct10:27 amEST

Shedding Light on the Same Dynamic

An opening bounce in equities still features a lagging AAPL, biotech, and healthcare sector, just as yesterday's session did. Many commodities are also pushing higher yet, as even a few softs like corn and wheat are getting into the mix, following sugar's lead. A good test for gold miners, in the GDX GDXJ ETFs, if it they can now hold and even...

05Oct5:02 pmEST

Stock Market Recap 10/05/15 {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...

05Oct1:56 pmEST

Back to the Roaring Twenties

The rally in the gold miners is continuing today, even with the gold metal ETF slightly red. Silver is performing admirably, while the senior gold miners in the GDX ETF outperform the juniors in the GDXJ. With this in mind, it is worth keying off the juniors into the final two hours of the trading. On the GDXJ 30-minute timeframe, below, note...

05Oct12:23 pmEST

Sector Foliage

Just in time for "fall foliage" is a sector rotation today, with large cap biotechs clearly lagging, as is AAPL, while energy/materials stage a counter-trend rally from depressed conditions. At issue, of course, is the sustainability of the move. But, for now, it is sufficient to buoy a further rally stemming from the broad market reversal...