Old-Fashioned Musical Chairs Before the Fed

30Oct12:40 pmEST

Coming Attractions

Putting storylines, conjecture, and fundamentals to one side, the monthly charts of VRX and SKX both tell a similar story--A steep multi-year uptrend now unraveling. The broad market bull run in recent years has seemingly defied gravity on many fronts for a while, ignoring most of the classic warning signs of a lack of underlying health....

30Oct10:36 amEST

Ignite the Gas for Halloween

While I would prefer a more textbook washout or crash before going long natural gas for a counter-trend rally, the UNG ETF, below on the 30-minute timeframe, is at least giving us something with which to work in terms of setting up context for a potential trade. Note the falling channel lines, highlighted below, indicative of the commodity ETF...

29Oct5:01 pmEST

Stock Market Recap 10/29/15 {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...

29Oct2:54 pmEST

The Spectre of a New Regime for Bonds

After the FOMC, Treasuries are quietly getting hit. With much of the focus on earnings season, combined with the likes of AMZN FB GOOGL running away higher, it is no wonder not much attention is being paid to the rise in yields today. Still, observing the TLT daily chart, below, you can see the corrective price pattern throughout 2015. with...

29Oct12:28 pmEST

Should You Play Vegas with This Pro?

The post-earnigns selling in GoPro sure does feel like overkill for what has been one of the more heartbreaking momentum stocks in the market, dating back one full year now. When we observe the chart since the firm's IPO, below, note how price has now undercut those prior lows. As tempting as it may be to declare that enough is enough, and a...

29Oct10:39 amEST

A Steady Chase, Up and Down

Into the end of month/fiscal year, we are seeing biotechnology stocks continue to push higher, with the IBB ETF up more than 1% as I write this. To be sure, the overall structure of the IBB chart remains corrective on may fronts. But as we have been discussing with Members it has likely been correct to back off the short side for the time...

28Oct4:55 pmEST

Stock Market Recap 10/28/15 {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...

28Oct2:51 pmEST

Reversal of Fortune

As is the norm on "Fed Days," we have seen many whipsaws and violent moves across virtually all asset classes. Headed into the final hour of today's session, I have my eye on the weak Euro, especially versus a strengthening U.S. Dollar. In addition, the precious metals and miners have seen a reversal of fortune akin to Claus von Bülow, with...

28Oct12:45 pmEST

A New Squeeze

Headed into the FOMC Announcement, after 2pm EST today, small caps are continuing to squeeze and reverse their underperformance in recent sessions. The IWM, small cap ETF, initially ripped up through the $116.15 level above which has been acting as resistance. It will be interesting to see if buyers can maintain the strength after the...

28Oct10:38 amEST

Old-Fashioned Musical Chairs Before the Fed

Headed into another big FOMC Announcement later today, small caps are looking to recoup recent losses from their relative underperformance to the major indices. Transports, however, remain weak. And biotechnology stocks, which led yesterday, are lagging this morning, in part due to GILD selling of a bit after earnings. But beyond that, the IBB...