A Clear Point of Attack

14Apr3:45 pmEST

It's the Nature of the Beast Which Counts

On a fairly slow market day, the price action in crude oil is of interest. The USO, ETF for crude, below on the daily timeframe, illustrates that Black Gold is pausing at prior price resistance. In and of itself, this is practically to be expected--To see "overhead supply" kick in. However, merely seeing some overhead supply kick in need not...

14Apr12:32 pmEST

No Reservations for This Next Adventure

After brilliant price action and volume patterns over the past few weeks and months, the metals and miners are largely coming in today on the back of a stronger U.S. Dollar (see previous blog post). Regarding when and where to buy a pullback in the XME, ETF for metals/miners, which houses plenty of precious miners and steels, the answer...

14Apr10:50 amEST

Smooth Sailing No More

A weakening U.S. Dollar throughout the late winter months seems to have enabled a good deal of risk appetite in both equities and commodities, not to mention the Euro and Swiss Franc. However, the greenback is staging at least some type of relief rally this week. And while equities have yet to flinch, precious metals and their miners are using...

13Apr5:34 pmEST

Stock Market Recap 04/13/16 {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...

13Apr3:45 pmEST

Isn't That Just Like an Algo?

...brings a knife to a gunfight. The metals and miners, now that their recent strength is becoming obvious, are largely well off session highs as the XME ETF even prints a daily chart reversal candlestick. I am not turning bearish on the group, but would welcome some of the charts to reset in the coming days, especially if the U.S. Dollar...

13Apr12:52 pmEST

Local Anesthesia for Regionals

As a few of our Members observed this morning, it looks as though the regional banks are numbing to recent pains with some local (or, well, regional) anesthesia in the form of a sharp relief rally in the debt-ridden energy firms (to which quite a few regionals have exposure), as well as the inter-related HYG JNK ETFs. Furthermore, when you see...

13Apr10:52 amEST

You'll Need Backup to Trade This Stock

There is no shortage of drama or headlines when it comes to Valeant Pharmaceuticals International, Inc. over the last few quarters. This morning, for example, the CEO agreed to be deposed by a Senate committee, side-stepping a potential contempt citation. Bill Ackman is, of course, still a major player in the name and can cause ripples at any...

12Apr5:20 pmEST

Stock Market Recap 04/12/16 {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...

12Apr3:29 pmEST

When in Doubt, There is Always Boston

A sharp upside reversal today illustrates the point about how flexible one has to be in this type of tape, with daily whipsaws against the backdrop of still-resilient bulls. With this in mind, if the market does actually follow-through higher we can return to a sector we looked at in recent weeks due to its impressive price action. The...

12Apr12:37 pmEST

A Clear Point of Attack

In recent videos for Members, a few points repeatedly came up: The energy sector had a few chances of late to roll back over again to fresh lows, but instead found buyers just in the nick of time. In addition, as a corollary to that first point, the XLE (ETF for the energy sector) had not tested its 200-day simple moving average (yellow line...