It's Good to Be the King

05Nov12:39 pmEST

Setting the Table

In front of the jobs number tomorrow morning stocks look to be setting the table for yet another directional move. To update our running look at the IWM, ETF of the Russell 2000 Index small caps stocks, the 30-minute timeframe, below, shows the highlighted (light blue) rising wedge breakdown, leading to a falling channel (purple lines). Bears...

05Nov10:28 amEST

Wall Street is Buzzing About This Trade

As extended as VRX was on multi-year timeframes, I have previously made the argument that the sell-off of late transcended even hedge fund titans like Bill Ackman. But as an offshoot to the theory of reflexivity, Wall Street is starting to smell blood and at least put Ackman to the test. This morning, the VRX (Ackman long) play is down roughy...

04Nov4:57 pmEST

Stock Market Recap 11/04/15 {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...

04Nov3:10 pmEST

Gambling at Your Discretion

Facebook reports earnings tonight, which is sure to capture many headlines. The social media titan has been an undisputed leader in a market experiencing rather narrow leadership of late, along with AMZN GOOGL NFLX PCLN, and a few others. Still, I am more inclined to focus on the XLY in the coming days and weeks. The XLY is the ETF for the...

04Nov12:51 pmEST

Peer Around the Corner

Updating the small cap ETF chart we looked at yesterday, the 30-minute timeframe for the IWM, Russell 2000 Index ETF, shows the highlighted rising wedge having broken lower. However, as this rally has unfolded we have seen these types of instances merely amount to a reset or refresh of the rally, eventually breaking higher yet after peering...

04Nov10:23 amEST

Time to Let Your College Kids Study Abroad

The Euro looks to only be getting cheaper versus the U.S. Dollar, which has been a thesis we have been tracking for a good while now. As with most theses in the current market regime, it has taken a good while to play out, with head-fakes galore casting doubt frequently. Nonetheless, on the updated Euro/Dollar daily timeframe, below, the...

03Nov5:14 pmEST

Stock Market Recap 11/03/15 {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...

03Nov2:51 pmEST

An Electric Rally Into Tesla Motors Earnings

Beaten-down and especially heavily-shorted names continue to squeeze higher, along with the likes of AAPL and GE. Headed into TSLA earnings after the bell, we should gauge from the market's reaction whether the Nasdaq is ripe to imminently blow-off higher for a parabolic move, or instead if the QQQ and XLY (consumer discretionary) break steep...

03Nov12:40 pmEST

Unstable Raging Bulls

The zoomed-out chart for EMES, below, illustrates what we are seeing in many beaten-down energy and biotechnology shares of late. EMES is rallying more than 43% as I write this, along with assorted other squeezes in names like SLCA today. But when you view the chart as a whole, today's action is barely a drop in the bucket compared to the ...

03Nov10:20 amEST

It's Good to Be the King

News of Activision Blizzard (ATVI) to acquire "Candy Crush" maker King Digital (KING) for $5.9 Billion seemed to be a bit rich at a first to me. However, ATVI is reversing to green as I write this. And inside Market Chess Subscription Services we have been tracking the overall chart strength in many gaming stocks for a while now, as they...