MarketChess
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23Feb12:41 pmEST
Context for the Afternoon
After a fairly slow-moving morning, into the afternoon we are looking at a few day-trading setups which I will run Members through in a Midday Video. Beyond that, some good context will be whether the outlined intraday potential inverse head and shoulders bottom proves true for the small caps, seen on the IWM 5-mnute chart, below. The pattern...
23Feb10:56 amEST
Dimon's Buys Are Forever
A few weeks back, Jamie Dimon, chairman and chief executive of JPMorgan Chase, spent $26 million of his personal fortune to buy his bank's stock, JPM. His buys were cheered as a sign of a bottom for the stock and perhaps the market at-large. Today, JPM and the other big banks in the XLF are getting whacked again, clearly lagging the market. I...
22Feb5:04 pmEST
Stock Market Recap 02/22/16 {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...
22Feb3:04 pmEST
It's Not Just Valeant in Trouble
Equities are still largely churning sideways since the opening gap higher, with another upside move about an hour ago failing to gain traction. Overall, the resilience in bonds and the Yen has yet to adversely affect the rally, for the most part, despite banks and biotechs relatively underwhelming as energy/materials outperform. In addition,...
22Feb12:55 pmEST
Gap and Kansas with Dust in the Wind
The intraday chart of the SPY, below, shows a gap up and subsequent sideways base which looks flatter than Kansas. Headed into the heart of the afternoon of trading, I am looking to see if the VIX continues to drop lower, as it did all morning. If bears are going to make a move in stocks, then seeing VXX and the like firm up is probably going...
22Feb10:44 amEST
Market Whack-A-Mole
On a daily basis, it seems as though equities, even more than usual, are playing a game of whack-a-mole with various issues around the world. On some days, the Japanese Yen comes to the forefront; Others, it is China or the EU. Today, crude oil strength look to be helping bulls sustain an opening gap higher. In addition, copper is gapping up...
21Feb4:04 pmEST
Weekend Overview and Analysis 02/21/16 {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...
21Feb12:01 pmEST
Sunday Matinée at Market Chess Cinemas
Available on Netflix, The Heavy Water War (original title Kampen om tungtvannet and alternative title The Saboteurs (UK)) is a six-episode TV miniseries produced by the Norwegian Broadcasting Corporation. Thus far, I like what I see. And I believe it is well worth the viewing for the interesting tidbit of historical tensions between Norway...
19Feb2:43 pmEST
A Benign Grind of a Day...Or is It?
The action for much of today smack of a resilient yet grinding market, in light of the bouncing earlier in the week. The VIX has been steadily weak all day, despite red crude and a green Yen, which is not making life easy for shorts pressing for an imminent market rollover. However, the VXX, VIX ETF, below on the daily chart, spiked up just...
19Feb12:49 pmEST
The Overbought in a Downtrend Setup
Chipotle Mexican Grill represents the type of setup which "should" work on the short side again, as it is overbought (upper Bollinger Band) in a clear, ongoing downtrend (declining longer-term moving averages). Still, if the setup is too easy for bears, as it may have been this morning with the indices, then perhaps it will simply continue to...
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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.
