A Double Whammy

18Nov12:32 pmEST

Strolling in for the Main Event

In front of the Fed Minutes being released later today, stocks continue to bounce. For larger perspective, consider the IWM, ETF for the small caps, on the 30-minute timeframe, below. Either the head and shoulders top (outlined at top of chart) we tracked last week (on this timeframe only) will continue to be the controlling pattern, or the...

18Nov10:30 amEST

Inside the High Beta Elevator Down

GoPro has, perhaps, accounted for more retail traders' losses among the high beta momentum names over the last full year than any other stock in the market. Not long ago, we looked at the GPRO chart and surmised that once the IPO lows were breached, we were operating in an area with no prior price memory and therefore there was no telling how...

17Nov5:00 pmEST

Stock Market Recap 11/17/15 {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...

17Nov3:11 pmEST

Playing Field Position

Watching the Houston Texans upset the previously-undefeated Cincinnati Bengals last night in a defensive battle, I was reminded of the antiquated notion of "playing field position." As the NFL rules have increasingly favored offenses, while protecting golden goose quarterbacks in recent years, low-scoring defensive battles have become...

17Nov12:41 pmEST

Bright Green on the Dollar Means Dim Commodities

At least for now, the continued strength in the U.S. Dollar is blunting any semblance of upside action in most commodities. For a while now, we have noted with Members that sugar and cocoa were two stalwarts in entire commodity complex. But natural gas and precious metals and miners, along with crude, continue to be disappointing just when it...

17Nov10:42 amEST

Don't Count Out a Hillbilly Thanksgiving, Just Yet

It seems as though the death of Wal-Mart has been greatly exaggerated, with each sell-off by WMT's stock greeted with patronizing I-told-you-so's about how capitalism works, by city slickers. But in reality, all WMT has done is come back down hard to its primary multi-year breakout level from 2011. Headed into the end of November, on a monthly...

16Nov5:12 pmEST

Stock Market Recap 11/16/15 {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...

16Nov2:38 pmEST

A Strong Attempt to Get Back Into Power

In the face of bad news, stocks are snapping back hard this afternoon. The morning weakness in several key parts of the market is abating, for now, as the volatility index is getting decimated. For perspective, the Russell 2000 Index ETF, below on the updated 30-minute chart, are still well below their breakdown level from last week, with the...

16Nov12:38 pmEST

Keep Tabs on These Argentinian Delicacies

Both BFR and GGAL, two South American banks headquartered in Argentina, have been acting better, technically, than many large U.S. banks of late. On the daily chart of BFR, below, for example, note the tight basing pattern over all major moving averages. GGAL has a similar chart, as well. Both BFR and GGAL report earnings this Wednesday,...

16Nov10:32 amEST

A Double Whammy

If rates do keep going higher, it would likely only add credence to the idea that retail plays with REIT exposure, such as Dillard's, have broken trend for a meaningful period of time. One of our Members pointed out the DDS shellacking earlier this morning, magnifying the continued weakness in many consumer-related areas. But the REIT...