Bank Bears Need to Hold On

26Oct1:26 pmEST

Two Bright Spots in a Cold Market

Working our way through the afternoon, stocks are simply searching for direction after an opening gap down, snapback rally, and now a drip back lower. Two bright spots to note, however, would be the action in major copper Freeport, and the regional banks. On the first daily chart, below, FCX is green for the second day in a row after missing...

26Oct10:52 amEST

We Know an Attack is Coming; But from Where?

At this point it is beyond obvious that most market indices are rangebound amid tedious action without much follow-through. While it is true that the surge in AMZN FB GOOGL NFLX of late may have masked some of that neutral action below the surface, in reality the majority of market players are keenly aware of the situation. It logically...

25Oct3:43 pmEST

Stock Market Recap 10/25/16 {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...

25Oct3:40 pmEST

On Defense

Opening night for the NBA, combined with major stock averages which are largely trendless, is good enough to report this old gem of the legendary Red Auerbach on defense. Defense (in terms of stop-loss discipline, selectivity, and position sizing) is a prominent factor in this market for traders looking to survive a tape with a plethora of...

25Oct1:30 pmEST

If We're Gonna Grind, Might as Well Grind and Brew

Equities are still having issues holding much of anything, with the FANG stocks masking a good deal of faded breakouts and grinding action below the surface of late. I have an eye on PCLN's outperformance here, especially over $1480. But on the whole most of my watchlist long ideas are not gaining much traction at all. At a minimum, bulls need...

25Oct10:44 amEST

Playing Without a Mouthguard

The sizable post-earnings gap down in Under Armour this morning decisively breaks the descending triangle pattern the stock had been forming for quite some time. We tracked the relative weakness in UA over the last few quarters, which piggybacked the general weakness in other consumer titans like DIS NKE SBUX, among others. Indeed, buyers in UA...

24Oct3:52 pmEST

Stock Market Recap 10/24/16 {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...

24Oct3:50 pmEST

Visa: It's Everywhere a Bull Market Wants to Be

Visa is the marquee firm reporting tonight after the bell. Judging from the monthly chart, below, it is likely going to be tough for bears to really wreck the type of havoc they want to on this market unless and until we see that steep multi-year trend begin to show fatigue. So, I am keying off the reaction in Visa not just tonight but also the...

24Oct1:19 pmEST

A Classic Look

It may seem as though the fade off the morning highs on the S&P 500 Index is a case of "here we go again!" But when we observe the 30-minute chart for the S&P's ETF, below, note the fairly orderly pullback (light blue lines) down to prior resistance (purple line). This presents an excellent test for dip-buyers the rest of the session to avoid...

24Oct10:51 amEST

Bank Bears Need to Hold On

In the face of more weakness in Treasuries this morning, regional banks are gapping higher, by and large. As TLT moves lower, rates edge higher, which can often benefit financials. While it is widely-known amongst market players and pundits that visible banking houses like GS and MS have been faring well lately, the regionals remain a bit of a...