Along for the Ride

01Oct12:23 pmEST

Commodities Came Down with a Classic Case of Pre-Halloween Diabeetus

Lost in the shuffle of the natural gas swoon as well as the metals and crude oil whipsaws has been the resurgent strength in sugar, taking over the reigns in the soft commodity complex while cocoa pulls back after a summer rally. Using the SGG ETN as a rough proxy, below on the daily timeframe, note the sharp rally this week in sugar. The...

01Oct10:21 amEST

There is Beauty in That Decay

Leveraged ETFs such as NUGT (triple-long GDX, senior gold miners) and TZA (triple-short IWM, the Russell's small cap stocks), as well as FAZ (triple short XLF, financial sector) all reversed-split. Inside Market Chess Subscription Services on the private Twitter feed this morning, we are fleshing out strategies about how best to incorporate...

30Sep5:12 pmEST

Stock Market Recap 09/30/15 {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...

30Sep2:09 pmEST

Jack's Back

News just hit of Twitter naming Jack Dorsey as the permanent CEO. Typically, the market despises uncertainty, and celebrates concrete matters, even if bad (at least the known bad issues can be then discounted properly). In the case of Twitter, leadership sure seems to have been lacking for a good while. Whether Dorsey can turn the tide and...

30Sep12:49 pmEST

A First Class Setup

Airline stock AAL is getting whacked into a broad market rally today on the back of a Goldman Sachs downgrade, not to mention American and Rolls-Royce dissolving a partnership yesterday. But beyond that, American is at a critical juncture on a multi-year basis, after airlines have staged a shocking rally in recent years considering how hated...

30Sep10:12 amEST

A Clean Observation Path

With the gap higher this morning, the S&P 500 looks to obeying a well-defined falling channel since the FOMC Announcement two weeks ago. On the hourly chart, zoomed-out, of the SPY (ETF for the S&P), below, note the light blue lines illustrating how price has been respecting those channel lines. A breach and hold to the upside, say over $192...

29Sep5:02 pmEST

Stock Market Recap 09/29/15 {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...

29Sep2:52 pmEST

Tight Surveillance on Netflix

After multiple reversals early this morning, the trading session has taken on an amorphous feel to it into the afternoon. Small caps continue to lag, with the IWM having a rough go of it at the $108 level. Natural gas lived up to its reputation as being a heartbreaker, failing to build on any progress made in recent sessions with a gap down...

29Sep12:14 pmEST

Breaking the Line

The relative weakness in the small market capitalization issues housed in the Russell 2000 Index seems to be throwing cold water on the market bounce. On the 30-minute chart of the Russell's actively-traded ETF, below, we are looking to see if the midpoint of the "hammer" reversal candlestick printed at the open this morning is violated with...

29Sep10:43 amEST

Along for the Ride

After some immediate selling at the opening bell which erased a pre-market bounce in U.S. stock index futures, buyers reasserted themselves for a broad market bounce from oversold conditions this morning. Short-sellers who got carried away with that opening fade are now in a bit of a hole. But, to be sure, the overall corrective structure of...