A Noir-ish Feel to the Rally in Crude

08May2:32 pmEST

A Shaky But Serviceable Foundation

The strength today seen in the XLF, financial sector ETF, could easily be the long-awaited breakout in the space that many have been expecting, what with rising rates and an oversold Berkshire Hathaway (the largest XLF component). But, as you can see on the daily chart below, the XLF is already screaming overbought, punching up through its...

08May12:35 pmEST

VE Day Levels to Watch

In light of the post-jobs number gap up today, the small caps in the IWM, ETF for the Russell 2000 Index, are focused on the highs from the last day of April. Specifically, on the 30-minute chart, below, note the significance of the $123.40 area, as being the next hurdle for buyers to clear. In addition, with the massive gap higher in the S&P...

08May10:08 amEST

Taking Inventory of the Ranges

Equities are not the only asset class which has been mired in a whippy range in recent months. In addition, precious metals have seen fits and starts for a while, albeit in an established bear market while equities are still in an overarching bull. Turning to the junior gold miners, I am watching the GDXJ ETF, seen below on the day timeframe,...

07May5:08 pmEST

Stock Market Recap 05/07/15 {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...

07May2:51 pmEST

Be Aware of the Pin Action

It is worth noting that CYBR reports earnings tonight after the bell. Courtesy of the Pure Funds website , below are the top components in the HACK, ETF for cybersecurity stocks, which could easily see "pin action," or sympathy buying/selling, based on how CYBR reacts. Elsewhere, YELP is spiking up on buyout talks, but at this stage in the...

07May12:00 pmEST

Whole Paycheck in Aisle 40

Looking at a multi-year chart of WFM, or "Whole Paycheck," as it is affectionately known as, note the significance of the $40 level, especially after this earnings gap lower. As they say, price has memory. And the prior 2007 bull market top for Whole Foods actually occurred in 2005, as the stock peaked several years in front of equities in...

07May10:12 amEST

Morning Duels

After several reversals in the futures market, spilling over into the cash open this morning, there sure seems to be plenty of duels at critical levels on the major averages. The small caps in the Russell are certainly dueling at their key battlegrounds, too. While BABA may be gapping up from badly beaten-down pre-earnings conditions, momentum...

06May5:02 pmEST

Stock Market Recap 05/06/15 {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...

06May2:57 pmEST

Navigating the Bumpy Streets

The small caps in the Russell 2000 may be outperforming the other indices a bit today, but we have been watching some specific levels all day inside Market Chess Subscription Services in order to at least stay out of trouble with longs. Indeed, it is worth noting that in choppy and/or corrective markets, even the most attractive of long...

06May12:28 pmEST

A Noir-ish Feel to the Rally in Crude

While crude oil gapped up this morning (and faded a bit off the highs as I write this), energy stocks remain suspiciously soft as a whole. Specifically, the likes of CHK is reversing down, and, more importantly, the XLE (energy sector ETF) is actually flirting with a breakdown from a long, sideways range. This type of action reinforces the...