Healthcare Kabobs on a Skewer for Bears

02Mar12:47 pmEST

Slow Action

Stocks had a few chances to outright crack this morning, but underlying bids in biotech and she financials seem to be helping the cause for at least a benign consolidation of recent gains in lieu of a sharp giveback. I am still treading lightly and tightly, watching the SPY Hourly chart, below, hit its upper resistance rail of the rising...

02Mar10:36 amEST

Go with Plan Z

The morning action is shaping up to be as blurry and nebulous as the photo above of the obsolete Zima drink. But the Zika Virus plays, INO and XON, are off to a healthy start. On their respective daily charts, below, both biotech/pharmas are working through potential inverse head and shoulders bottoming formations. If their morning strength...

01Mar5:13 pmEST

Stock Market Recap 03/01/16 {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...

01Mar3:39 pmEST

Revolt Now or Forever Hold Your Peace

There are a few schools of thought about the bond market out here right now. One is that "We are Japan," with rates bound to stay low regardless of The Fed, due to secular deflationary pressures. Another view is that rates should steadily rise from here in a healthy manner due to The Fed being behind the curve, as usual, and the U.S. macro...

01Mar12:50 pmEST

When in Doubt, There is Always Steak

The market action into the New York lunch hour continues to impress, with everything from Goldman and financials to Apple regrouping after looking wobbly yesterday at the closing bell. Still, some notable laggards stick out, which a few of our Members have noted, including FIT KSS LNKD SHAK TSLA TWTR, among others. But with biotech and...

01Mar10:54 amEST

Recipe for a Rally

Despite a dodgy close yesterday afternoon, stocks came fighting back this morning, Beyond that, they have several factors working in their favor at the moment. Gold and Treasuries are in the red, perhaps seeing some safe haven trades unwinding a bit. The Japanese Yen, as well, is red, giving bulls in stocks hope for some more meaningful risk...

29Feb5:05 pmEST

Stock Market Recap 02/29/16 {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...

29Feb3:23 pmEST

High Stakes Game of Kiss and Tell

Bears made a sneaky move within the last hour or so, slowly walking the market down before sell volume accelerated. The IWM, ETF for the Russell 2000 Index small cap stocks, illustrates a "kiss" off the declining 50-day moving average. Earlier today, bulls were seemingly in control of a market which had plenty of reasons to sell-off. However,...

29Feb12:45 pmEST

The Market is Negotiating with China

Despite the Shanghai sell-off last evening, U.S. stocks are acting reasonably well today, even in the face of weakness in healthcare and biotechnology issues, too. Still, if that type of weakness cannot roll this market over below declining 200-day moving averages on the major indices, perhaps that is a signal to tread lightly with any short...

29Feb10:50 amEST

Healthcare Kabobs on a Skewer for Bears

The HZNP and VRX post-earnings sell-offs stand out in an otherwise choppy market early on. As crude oil flopped around after the opening bell, so too did stocks, with the S&P 500 featuring buyers and selling duking it out at the 1950 level. Regarding the big healthcare names, we know HZNP VRX have been broken charts for a while now, despite...