MarketChess
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14Mar12:33 pmEST
Drift Into End of Winter
After a lackluster open, the pace of the action has not yet picked up today. On the one hand, bulls are defying a sell-off in crude oil, with QQQ holding green and clearly acting as a bastion of relative strength today. However, small caps are holding on for dear life to $107.50, seen below on the IWM 30-minute timeframe as marking an area of...
14Mar10:47 amEST
At a Cross-Section of Danger
Crude oil weakness this morning is not yet having a full-on bearish effect for stocks at-large, with the QQQ green as I write this and the lagging small caps holding $107.50 support on the IMW ETF. Marijuana play GWPH is shooting up (or smoking up) this morning on the back of positive results from Phase III. Other weed-related plays like INSY...
13Mar2:53 pmEST
Weekend Overview and Analysis 03/13/16 {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...
13Mar11:09 amEST
Sunday Matinée at Market Chess Cinemas
Mad Dog and Glory (1993) is an intriguing comedy/drama mostly because Robert De Niro and Bill Murray go against type in a major way. As we see their surprising role reversal unfold, De Niro plays a shy, lonely police crime scene photographer, while Murray is a hot shot, yet goofy wannabe stand up comic, mafia boss. De Niro’s character saves...
11Mar3:21 pmEST
Ponder This Wedge Over Your Friday Night Dinner
To follow-up on my previous blog post, the energy stocks in the XLE ETF continue to coil tightly below multi-month resistance. And just as is the case with the IWM QQQ versus the DIA SPY, with the former two well below their 200-day moving averages while the latter two are already there, the issue is whether the XLE plays catch-up higher to the...
11Mar12:49 pmEST
Miller Time at the Junkyard
In addition to the ECB this week, the rallies in high yield corporate and junk bonds (HYG and JNK, respectively) look to be aiding the financial and energy sectors. Regional banks, in particular, look most relieved, with the KRE ETF up over 2% as I write this. We profiled ZION as a quick long idea for Members last evening. And I suspect if HYG...
11Mar10:59 amEST
Slight Improvement in the Grand Scheme of Things
The improved price action in the global materials mining complex, precious and otherwise, has been noteworthy throughout the winter months. Nonetheless, the abrupt downside reversals we are seeing in many parts of that sector this morning serve as a good reminder that even the most promising of bottoms (assuming that is what is in play at the...
10Mar5:17 pmEST
Stock Market Recap 03/10/16 {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...
10Mar3:38 pmEST
A Prime Example
Headed into the closing bell, stocks are well off session lows, as the S&P 500 circles back up what has been a big battleground area at 1990. Amazon experienced intermittent website outages today, but that still did not galvanize bears enough to breach the 200-day moving average, the yellow line on the daily chart, below. On the other hand,...
10Mar12:47 pmEST
Toying with Fear
Despite the glaringly weak action in small caps and financials this morning, in effect leading the market lower after the initial ECB pop, volatility is still fairly subdued. True, the market may be punting on making a bonafide directional move before The Fed next week. But I suspect if the VXX, VIX ETF, clears the $23 line and holds over it,...
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About
“chessNwine” has been a popular trader and financial blogger since 2009. His work has appeared in The Wall Street Journal Online Edition, Yahoo Finance, TheStreet.com, Josh Brown’s The Reformed Broker blog, AbnormalReturns.com, Barry Ritholtz’s The Big Picture blog, and the “Suggested” stream on Stocktwits.com.
