Chase the Chasers

05May12:52 pmEST

Timid, But Still Present

The slow market action this morning is spilling over into the New York lunch hour, as retail, transports, materials, and biotech lag. Bulls have, however, largely blunted any aggressive downside action despite the glaring laggards and the overall narrow patch of leadership. Even with TSLA reversing hard into the red, for example, buyers...

05May10:37 amEST

The Reevaluation Stage

Much like our analysis regarding PCLN yesterday after earnings, this morning after its own earnings Tesla Motors compels us to take a look at the leader on multiple timeframes. First, just like PCLN, Tesla has gone, net-net, nowhere over the last two years. Specifically, TSLA is trading at the same price today it was in May 2014. So, despite...

04May5:18 pmEST

Stock Market Recap 05/04/16 {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...

04May3:38 pmEST

Remember Me: Benny Blanco from the Backtest?

After PCLN's negative earnings reaction this morning, bulls are looking for TSLA (and WFM and FIT) to salvage the current sell-off with earnings of their own after the bell, tonight. Many leadership names continue to sport less-than-stellar charts, aside from the two monsters here: AMZN and FB. True, a name like BSX in the medical device...

04May12:52 pmEST

The Action is the Juice

The action in the Russell 2000 Index in recent weeks continues to give us excellent context and perspective in terms of making sense of the recent market whipsaws. Bulls are looking for yet another false breakdown here. But with the IWM, ETF for the Russell, losing $111 this morning and holding below it as I write this, bears look to have...

04May10:45 amEST

Travel Loses Its Luster

Priceline is cratering below $1300 after earnings this morning, which had marked the upper end of a massive, sloppy range the online travel discount website. To see a marquee leader like PCLN remain trend-less for so long has been a bit odd, after a multi-year bull run. In fact, for more than two full years now the stock has gone essentially...

03May4:47 pmEST

Stock Market Recap 05/03/16 {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...

03May3:43 pmEST

Keeping Things Balanced

After breaking below fifteen-month support, the U.S. Dollar ETF, below on the daily timeframe, is printing a bullish engulfing candle today, perfectly coinciding with commodities and commodity stocks coming in. Also note equities in general seem to not be so high on the Dollar bouncing back, despite rallies and news in some beat-up names like...

03May1:05 pmEST

Pay Your Dues Before Summer Really Begins

Much like the weather in the northeast today, summer is not quite here yet. And when it comes to the global materials and commodity complex, the same may very well be true despite a riveting rally since the winter months. Emerging markets, for example, not unlike the energy sector, could easily be in the process of putting in a long-term bear...

03May10:48 amEST

Chase the Chasers

We have some nasty whipsaws taking place across several markets this week, with equites gapping, in many case, free and clear below the apparent bull victory seen during yesterday's rally. Goldman Sachs, a premier financial firm, is a good example of the above, sporting strength yesterday to the delight of bulls only to give up the ghost, and...