This Market Needs a Kite Experiment

26Apr3:47 pmEST

Underwater Too Long

Today's peculiar upside reversal in the precious metals' miners comes at an important technical spot. Not only is GDX (and GDXJ, for the junior miners) oversold, seen on the first chart below for the senior gold miners' ETF, but GLD, ETF for the yellow metal itself, has backtested its 200-day moving average (yellow line on second daily chart,...

26Apr1:46 pmEST

Chewing Through Nostalgic Areas

To follow-up on yesterday's blog post, both CMG and WYNN not only survived earnings but are furthering their respective bull cases for long-term turnarounds today. Wynn Resorts, below on the monthly chart, did an admirable job breaching $105 a few weeks back. And now is flashing many signs of valiantly holding above it. I suspect the net major...

26Apr10:43 amEST

Kaiser Aluminum Söze Convincing the World

On the back of completely different reactions to earnings by aluminum giant Alcoa versus steel magnet X, you get the sense one of these industries is telling a story the other is not buying. The bull story rests on the price action in the aluminum stocks. As one of our Members noted this morning, beyond Alcoa we also have improving price action...

25Apr3:48 pmEST

Stock Market Recap 04/25/17 {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...

25Apr3:47 pmEST

Rotation and Turnarounds

In recent blog posts, we have been discussing the bulls' attempts to keeping rotating in order to hold onto the consecutive gaps higher to begin the week. Headed into the heart of earnings season the next few days, consider two turnaround plays tonight, too. Both CMG and WYNN have been displaying excellent price action in recent months. And...

25Apr1:49 pmEST

China Stocks: The Art of More

Strength in BIDU today is cementing the recent moves in China internet plays like BABA JD MOMO, even SINA WB. As for fresh ideas, Netease.com, below on the daily chart, looks as ripe as any before May 10th earnings. Note the channel breakout threatening today. I want to see if this moves holds into the bell, before a push over $280 for a long...

25Apr10:43 amEST

Building Up the Land

Caterpillar, a Dow component, is up more than 6% this morning after earnings. The global machinery play is clearly tethered to global growth expectations. And you can be sure bulls are celebrating the sanguine CAT number and forecast. Beyond a single earnings report, though, note the multi-year look at CAT, below on the monthly timeframe. The...

24Apr3:54 pmEST

Stock Market Recap 04/24/17 {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...

24Apr3:52 pmEST

Gap 'n Flat: Now, What?

This morning's gap higher sure was picturesque for bulls. But as the intraday IWM chart shows, below, it was a gap and flat type of day. Indeed, it was a grind after the open. Still, bears failed to get their fade this time around, which raises the specter of a new leg higher in stocks. And, beyond that, equity bulls were able to crush the VIX...

24Apr1:48 pmEST

This Market Needs a Kite Experiment

Much like Founding Father Benjamin Franklin, we may need to experiment with a kite in this market to see how much electricity it can conduct. Specifically, KITE, a mid-cap biotehnologu stock, is sporting an attractive daily chart (below) in front of May 8th earnings. This chart is clearly one of the better XBI plays which have held up well...