Trouble Getting High on its Own Overhead Supply

23Sep12:33 pmEST

The Futures Ain't What They Used to Be

After reversing the reversal of a reversal (probably off another reversal) off the futures last night, the cash market today is back in the red as I write this, with small cap stocks leading lower. Bears likely need to start pressing soon, or we are likely to see yet another late-day bump, as we have been seeing of late. Overall, the market is...

23Sep10:19 amEST

A Nice Range Into Fall

An overnight spike lower in stock index futures has more or less been erased, as the major averages are currently hugging the flatline. Biotechs tried to bounce at the open but were immediately sold, again, into strength, and are currently lagging many sectors and indices. As for intraday context, I noted on private feed not long ago inside...

22Sep5:08 pmEST

Stock Market Recap 09/22/15 {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...

22Sep2:16 pmEST

There is No Joy in Coalville

Despite promising late-summer rallies in the likes of ACI and BTU, after a few other coal miners had declared bankruptcy, Arch and Peabody failed to sustain that strength and have now given up most or all of those gains. While those rallies gave a glimmer of hope to investors in ACI BTU that they had definitely survived the coal onslaught for...

22Sep11:01 amEST

Trailer for The Big Short

This should be a good one. via YouTube Starring Christian Bale, Steve Carrell, Ryan Gosling and Brad Pitt, in theaters Christmas. When four outsiders saw what the big banks, media and government refused to, the global collapse of the economy, they had an idea: The Big Short. Their bold investment leads them into the dark underbelly of modern...

22Sep10:21 amEST

Like Ships Passing in the Night

There is an air of eerie quiet to this morning's gap lower in the market, which may be a consequence of weeks (or perhaps quarters) of choppy price action rendering many market players too fatigued or lethargic to even become fearful. They may also be complacent, too, since each apparent bout of selling has been bought for a good while now. Of...

21Sep5:12 pmEST

Stock Market Recap 09/21/15 {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...

21Sep3:56 pmEST

Pizza Rat Charting the Price Action in Biotechnology Stocks Today

See you after the bell for my recap, the brief one here and the full-length one for Members.

21Sep3:10 pmEST

Adding Some Spice to the Final Hour

It has been a session full of whipsaws and dislocations, with biotech getting clocked (beyond BLUE BMRN, even GILD hit) while TSLA, energy, financials, and transports try to hold their own. As for some broad market context on a spicy day, note the 15-minute SPY chart, below, with price still basing below Friday morning's post gap-down highs. ...

21Sep12:47 pmEST

Trouble Getting High on its Own Overhead Supply

The concept of "overhead supply" is one which is often eschewed and castigated during bull markets, since any apparent inkling of price resistance is often thrown by the wayside as demand overwhelms supply to push those bull horns up. Eventually, though, overhead supply rears its head and begins to matter in a major way. (For those interested...