Stock Market Recap 05/12/16 {Video}

17May10:51 amEST

Symbolism of the Transports

The price action in the transportation sector today is symbolic of the way in which this market has operated for a while now. Just when it appeared that bears had a chance to really inflict some damage, with the transportation sector average, below on the daily timeframe, rejected off its broken support trend (lower light blue line) yesterday,...

16May4:41 pmEST

Stock Market Recap 05/16/16 {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...

16May3:11 pmEST

The Fallout from Coffee

On a sizable upside reversal in the broad market on the back of Friday's weakness, it is suspicious to see both DNKN and SBUX red. Starbucks has been on the consumer leaders in the tape for many years now, arguably the poster child for an American consumer which never admits defeat and begs for mercy even when logic says the consumer has...

16May12:58 pmEST

Making Sense of the Dancing Around

In recent sessions we have seemingly alternated between individual "trend days" being up or down, which likely reinforces the notion that the market remains at a critical juncture from a long-term technical perspective. Bulls are convinced The Fed is on the correct path, there is no recession coming, and that sentiment is simply inconsistent...

16May10:53 amEST

This One's for All the Shuffleboard Bragging Rights

It seems a bit too cute that just a few weeks after Carl Icahn announced he no longer had a position in Apple, Warren Buffett now comes out and discloses a new position in the name. The billion-dollar bet on Apple seems at odds with Buffett's general philosophy regarding technology firms, since he has freely admitted his general ignorance on...

15May2:17 pmEST

Weekend Overview and Analysis 05/15/16 {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...

14May6:57 pmEST

Saturday Night at Market Chess Cinemas

The untimely death of Garry Shandling earlier this year saw the world losing an incredibly underrated comedian. It is truly unfortunate that The Larry Sanders Show, in which Shandling played the lead, ran on HBO as a sitcom from 1992-1998, before the era of ubiquitous streaming television shows for all to watch. Thus, its brilliance will likely...

13May12:50 pmEST

A Backdrop of New Mexico Architecture

If the bull case does pan out for the broad market this summer, it is hard not to see Adobe taking over the reigns of mature tech leadership. On the daily chart, below, note ADBE basing soundly in the context of an uptrend. Earnings are not due until late-June. And I suspect a move over $97.20 now could get Adobe going well over $100. Note...

13May10:42 amEST

Know What You're Hunting For

The back-and-forth nature of the action over the past week or so can be reflected in two charts, differing timeframes of the SPY (ETF for the S&P 500 Index). First, the daily chart shows a possible head and shoulders top (the right shoulder can be higher than the left shoulder in a valid top), below in light blue on the first chart. Next, the...

12May5:54 pmEST

Stock Market Recap 05/12/16 {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...