It's Not Always About the Breakouts

21Jun3:44 pmEST

Come on, Kryptonite!

At the risk of a "Mush" situation, it looks as though we have some form of speculative fervor taking place in the biotech arena, with healthcare names on the outskirts of town also getting a boost. At this point, some are rather extended while others are not, which of course means we need to hone in on the ones setting up at present. To...

21Jun1:17 pmEST

Crude, Where's My Bottom?

Once again, the small cap weakness coupled with persistent selling in the energy sector at-large seems to be slightly outweighing biotech and select tech strength today. As a result, I am not forcing in new longs for what is an increasingly divergent market. As an aside, it is interesting to see the solar outperformance, however, with RUN VSLR...

21Jun10:45 amEST

Tweets Versus Eats

The main issue with the early strength in Twitter's stock this morning is that it is so widely-watched and sees such knee-jerk cheerleading that it is usually best to see if the move can actually hold beyond a few hours. TWTR is still potentially in the later stages of a major bottom after enduring a severe downtrend for years after an initial,...

20Jun3:45 pmEST

Stock Market Recap 06/20/17 {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...

20Jun3:44 pmEST

Not Enough Juice for the Euphoria Gambit

It appears as though some glaring weakness in tech and small caps today, alongside various other selling in the likes of CMG and DIS, is overpowering the rotation into biotech to spark some type of frenzy buying into July 4th. Intel, for example, below on the daily chart, is breaching $35 prior support and is now at risk of severely weighing...

20Jun1:32 pmEST

Less Flash, More Substance

On the back of yesterday's rally, of which we have seen similar types of sessions in recent weeks, we also have seen similar types of givebacks the following day. Indeed, some more substance to follow-up the rally and bullish setups would be favored for long-minded traders. Instead, despite some good action in biotech, again, the market is...

20Jun10:38 amEST

Take Your Biotech Marching Orders from This Stock

Barring some stock-specific news anytime soon, I suspect the issue of whether the biotechnology sector rally not only continues to hold but also broadens out can be seen in the likes of Amgen and a few other IBB plays. Specifically, the AMGN monthly chart, below, indicates the stock has essentially been sideways for roughly two and a half...

19Jun3:39 pmEST

Stock Market Recap 06/19/17 {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...

19Jun3:37 pmEST

We May Be in the Tommy Cheeseballs Phase of This Market

Just in time for summer at the Jersey Shore, we may be in for a few days of highly speculative action as even the trashy, downtrodden names get involved in the fun. As an example, while their charts are actually decent, the 3D printing plays perking up may be a sign that extreme animal spirits are rising up, as the opening market gap higher...

19Jun1:35 pmEST

It's Not Always About the Breakouts

We often discuss looking for signs of actual buyers when a stock pulls back before assuming any type of bottom is in place. While a bull run may essentially bail out dip-buyers time and time again, it is still useful to keep this discipline in mind, especially considering the carnage even in this market in the retail and energy sectors over the...