MarketChess
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23Jan3:49 pmEST
Some Serious Voodoo Charts
The "rare earth" stocks caused a good deal of pain to traders on the U.S. exchanges several years back. It is hard to find many tickers trading here now, though, as the REMX ETF (below on the daly chart) for rare earth mining stocks is composed mostly of obscure firms trading on foreign exchanges. Nonetheless, the improved price action is...
23Jan1:30 pmEST
It's Going to Take a Team Effort
The precious miners are at a major long-term spot, beyond short-term bounces. Fortuna Silver Mines, for example, a silver on the monthly timeframe, below, illustrates this point. You would be surprised to see how many other precious miners are sporting similar technical setups, long-term, where bulls are on the cusp of major technical progress...
23Jan10:43 amEST
Time to Catch the Fat from Falling Chips
Beyond the QCOM issues (a name we had been short for Members over the last few weeks and closed out the position this morning in front of Wednesday's earnings report), semiconductors are reversing soundly off their late-december highs, seen on the SMH sector ETF daily chart, below. With the long reversal doji candlestick off those prior highs...
21Jan7:45 pmEST
Weekend Overview and Analysis 01/22/17 {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...
21Jan7:42 pmEST
Saturday Night at Market Chess Cinemas
From my vantage point, plenty of people could use a break from nonstop politics and political arguments. Some comic relief, therefore, may be in order. As a result, I suggest viewing the now-twenty-five year old, Wayne's World (1992), which should not be dismissed out of hand. We never want to become snobs when it comes to films and...
20Jan1:32 pmEST
All the News That's Fit to Pin
Despite a gap-fill down to the open on the S&P 500 Index's ETF (SPY), the market currently has the look and feel of pinning a variety of issues as options expire. Indeed, while bears were rooting for a broad-based "sell the news" reaction to Inauguration Day, we may very well need to wait until next week for a better gauge as to how this...
20Jan10:49 amEST
Peaceful Transfer of Power in a Range
On this Inauguration Day it is surely ironic that the major indices, mired in this historically compressed range, seem to be effecting a peaceful transfer of power between buyers and sellers on a daily basis. In other words, on a day-to-day basis we have seen rather peaceful alternating action, with little in the way of follow-through one way...
19Jan3:42 pmEST
Stock Market Recap 01/19/17 {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...
19Jan3:39 pmEST
Big Evening Blue Before the Big Day Tomorrow
Long-time readers will recall, back in 2010, looking at IBM (or "Big Blue") in a bullish light, ready to break out of a multi-year base higher. At a certain point, though, namely in 2013, Big Blue began to slow down and display the hallmarks of a textbook long-term head and shoulders top. This top coinciding with plenty of self-described value...
19Jan1:36 pmEST
Bend the Boat Like Beckham
It is often said in markets that the trend is your friend until it bends in the end. Small caps sure seem to have been "bending," but not breaking, in recent sessions. The higher beta issues in the Russell 2000 Index have lagged their senior counterparts at various junctures over the last few weeks, prompting bears to call for an imminent...
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“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.
