You Like That FedEx Rising Wedge

02Dec3:14 pmEST

Old-Fashioned But Not Obsolete

As much fun as many market players and pundits have had at castigating the transports, what with "Dow Theory" being seen as a relic of Wall Street past, the reality is that the Dow Jones Transportation Average topped out a little over one year ago and remains in a bear market. That 200-day moving average, the yellow line on the daily chart of...

02Dec12:27 pmEST

Last Run Before the Eruption

Crude oil had a wild morning in what seems like has become the norm for violent whipsaws without much progress to show for it. After spiking to green before inventory, Black Gold is now soundly in the red, taking energy stocks down with it in what was already a soft session for commodity-related issues. The USO, crude oil ETF, is down nearly 3%...

02Dec10:39 amEST

Doing Vegas Properly

While much of the focus in the casino sector these days seems to be on whether LVS WYNN and pure Macau play, MPEL, are bottoming after relentless downtrends, MGM and BYD look to be sporting stronger overall chart setups. If the casino resorts do, in fact, rally into the holidays as a reprieve after what has been a rough year for them, then I...

01Dec5:02 pmEST

Stock Market Recap 12/01/15 {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...

01Dec3:04 pmEST

Making Up for the Fallen Angels

With some solars and high beta China names perking up today, like SCTY SUNE, it looks like momentum traders are shifting downstream from the likes of AAPL to take on a bit more risk. On the daily chart for Apple, below, the stock is clearly struggling today and indeed overall versus the broad market. Holding under $117.50 would now place the...

01Dec12:42 pmEST

Scouting Around Chinatown for Lunch

BABA and BIDU, among a few other high beta China stocks, created a buzz into the bell yesterday with their surging price action. Both of those names, and the likes of CTRP, are pausing today. But SINA is a name worth watching, along the same lines. On the daily chart, below, note the constructive basing action over all major moving averages....

01Dec10:34 amEST

Morning Strength Filled with Tension

After a strong open, equities are coming in off a recessionary (sub-50) ISM Manufacturing Index number. It is likely we are seeing the market look to shake out as many players as possible before it eventually commits to a new direction. In the meantime, as we have for a while now inside Market Chess Subscription Services, the key is staying...

30Nov4:40 pmEST

Stock Market Recap 11/30/15 {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...

30Nov3:06 pmEST

A Tale of Two Social Losers

TWTR and YELP have likely trapped as many retail longs in recent quarters as any two underperforming names in the market. There have been too many instances when both have been declared to be too beaten-down to go down any more. And yet they have. To be sure, both firms could easily be bought out any day now, which is of course a risk to...

30Nov12:48 pmEST

You Like That FedEx Rising Wedge

Despite an exuberant bounce last week, the transports as a whole remain under pressure. Recall that the Dow Jones Transportation Average topped out one full year ago nearly to the day, after Thanksgiving 2014, and has not looked back since. Instead of discernible bottoming formations, the likes of UNP continue to remain persistently weak....