MarketChess

24Jun10:24 amEST

Emerging in the Darkness

It has been a while since we have heard much of anything from shares of Goldman Sachs. Clearly, the spike lower in rates in recent months has served to undermine any excitement bulls may have had for most holdings in the KRE (regional banking) and XLF (larger cap financials) sector ETFs.  But if Treasuries take a seasonal pause here allowing...

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23Jun11:08 amEST

Weekend Overview and Analysis 06/23/19 {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 more...

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21Jun10:41 amEST

Meal Planning Properly

We have a fairly calm morning of digestion taking place in most part of the market. On the surface, this is pretty much what we expected and why we did not necessarily want to feel compelled to chase yesterday's rally, instead opting to be a net seller.  However, bears have proffered little actual technical evidence for us to simply readily...

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20Jun11:23 amEST

The Best of War and More

Reports of a United States Navy drone being shot down by an Iranian missile over the Strait of Hormuz in what government officials are calling an "unprovoked attack," certainly is affecting crude oil and most energy stocks this morning, as they are spiking higher virtually across the board.  But as far as any jitters reverberating through...

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19Jun3:13 pmEST

You Are Now Free to Move About the Hamptons

Working our way through the final hour of this Fed Day, it appears Fed Chair Powell has, at least initially, done enough to soothe markets despite not giving equities a rate cut. Overall, the action has been mixed today, but I have not seen anything too bloody to push me off the running list of setups we are tracking.  If anything, bears may...

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19Jun10:59 amEST

Stay on the Prowl

The easiest thing to do for most market players at this particular moment in time seems to be to wait on the FOMC fireworks later today. Beginning at 2pm EST, we will get the Fed's interest rate decision, accompanying statement, Fed members' forecasts, and Chair Powell's press conference, to boot. Indeed, those are all known, defined risk...

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18Jun3:56 pmEST

Extreme Relative Strength Stocks 06/18/19 {Video}

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18Jun10:39 amEST

From Treasure to Trash

While a "June Swoon" still may materialize in equities, we know it was not meant to be for at least the first half of this month. After a demoralizing May for bulls, June has proven to be a rebirth of sorts, with various M&A deals emerging to boost healthcare, biotech, and software growth stocks when they needed it most, among other sectors....

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17Jun3:24 pmEST

Not Funny "Haha," Funny QURE

Although we can point out the likes of AMZN and FB looking like the best "FANG" names here, alongside OLED continuing to exude excellent relative strength to its downtrodden peers in the semiconductors, not to mention some decent software action, the reality is that today's session belongs to biotechnology and select healthcare stocks. This is...

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17Jun11:07 amEST

A Nice Sweetener

Monday morning spikes higher in the likes of ARQL BPMC CLVS QURE, and especially ARRY on the back of a $10/$11 billion buyout offer from PFE are all helping to propel the biotech ETFs (IBB, XBI) upwards. To be sure, biotech bulls needed a dose of adrenaline early this week, as the XBI ETF, seen below updated on its daily timeframe, was in dire...

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