MarketChess
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21Mar10:49 amEST
New Dangers Below the Surface
The weakness in financials is at the forefront of the market weakness this morning, as their underperformance since last weeks FOMC is becoming a bit more pronounced while equities as a whole staged a "gap-and-fade" this morning. On the one hand, we do not want to become overly-sensitive to intraday market moves. However, the constant fading...
20Mar3:48 pmEST
Stock Market Recap 03/20/17 {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...
20Mar3:45 pmEST
Gotta Keep Hustling Like Raymond
With spring officially arriving this week, the market is off to a slow start with another day of consolidation or churning. Buyers stepped in over the last hour or so after an afternoon thrust down by sellers. But, overall, we have a slow tape on our hands. Still, it is important to keep putting in the work and hustling to identify those...
20Mar1:39 pmEST
Bears Need to Decide if the Bank is Worth the Risk
For the second session in a row, banks are lagging the tape as they continue their post-Fed rate hike "sell the news" reaction. The Wells Fargo daily chart, below, illustrates as much, with WFC losing some intermediate-term trend support today (or at least intraday). It would certainly behoove bears to make a push in the broad market lower in...
20Mar10:35 amEST
Man the Fortinet in This Battle
In lieu of the gap up in downtrodden cybersecurity play, FireEye, this morning, some of the better technical plays in the HACK ETF are worthy of a look. Specifically, we should consider manning the Fortinet, as we can see the daily chart, below, sporting improved technicals in 2017. After an early-February gap higher, note how tightly the...
18Mar5:48 pmEST
Weekend Overview and Analysis 03/19/17 {Video}
The following video is a brief, condensed version of the full-length Weekend Video Strategy Session which I present each weekend 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. Please click here for more...
18Mar5:41 pmEST
Saturday Night at Market Chess Cinemas
Not only is Bowfinger (1999) a vastly underrated comedy, the film was also prophetic in terms of the coming reality television boom and the whole genre of reality TV and general fake reality depicted on the big screen, too, after the turn of the century. Then again, we should expect as much from Steve Martin, who wrote the script and stars...
17Mar3:29 pmEST
Bulls Can Die Another Day in This Industry
As we discussed with Members in a video earlier today, as volatile as biotech has been (see the AMGN ESPR sharp selling) it may be a bit more prudent to focus on some of the better performers in the healthcare arena, not tethered to drugs and clinical trials, per se. The diagnostics/research segment in healthcare has quietly been a strong...
17Mar9:11 amEST
Sketch a Good Setup for Skechers
Skechers, a lifestyle footwear firm, always seems to get lost in the shuffle among the FL NKE UAA of the world in the retail space, as traders usually do not create too much buzz about the name. However, one of our Members noted the improved action here yesterday. And when we observe the daily chart, below, it is clear that this is a...
16Mar1:35 pmEST
A Quick Run in the Snow
A post-Fed hangover combined with the NCAA basketball tournament tipping off is likely adding to the pedestrian action into the early-afternoon. Thus far, bulls are putting up a fight around the $238 area on the SPY, ETF for the S&P 500 Index, which roughly equates to 2380 on the S&P cash. I am trying not to over-trade or overanalyze this type...
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About
“chessNwine” has been a popular trader and financial blogger since 2009. His work has appeared in The Wall Street Journal Online Edition, Yahoo Finance, TheStreet.com, Josh Brown’s The Reformed Broker blog, AbnormalReturns.com, Barry Ritholtz’s The Big Picture blog, and the “Suggested” stream on Stocktwits.com.
