Underwater Green

23Mar12:51 pmEST

An Adventure Into the Fire

The rally in biotechnology shares in recent sessions has tempted many to look for a meaningful bottom, which may still be a possibility, after months on end of notably weak price action. It is worth noting that IBB, the larger cap biotech sector ETF (below on the daily timeframe) still has yet to precisely test its 50-day moving average since...

23Mar10:48 amEST

Nike: Just Sweat It

The post-earnings gap down in Nike this morning raises a few issues for a very important part of the market. While it is true that NKE is now a Dow component, it is still a major holding in the XLY, ETF for the consumer discretionary sector. AMZN is the top holding in the XLY, but NKE is likely a key piece of the puzzle into the spring months....

22Mar5:27 pmEST

Stock Market Recap 03/22/16 {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...

22Mar3:38 pmEST

There's a New Doctor in Town, But He Might Give You the Diabeetus

Sugar continues its wildly impressive bull run today, with coffee following suit. We have been profiling the improvements in sugar for a few months now, with a higher low firmly in place on the weekly chart of the sugar ETN, below. With this in mind, consider that sugar may be the new "Doctor," or barometer for commodities, in lieu of copper,...

22Mar12:46 pmEST

Open to a Run in Late-March

The cybersecurity plays have categorically underperformed for a good while now, throwing a wet blanket on the thesis of an imminent bull run for the sector leaving investors in the dust. That said, CYBR has enjoyed a sharp rally in recent sessions. FEYE is underwhelming today, as are IMPV BLOX PFPT. But SPLK is on the radar due to its tight...

22Mar10:56 amEST

Who's Watching?

Previously beaten-down and lagging parts of the market, namely AAPL and biotech/pharma, are leading the market's reversal off a soft open in the wake of the Brussels attacks overnight. You might say that the market is doing its best to frustrate just about most traders here, as shorts are not picking up much steam and fresh long entries are few...

21Mar5:06 pmEST

Stock Market Recap 03/21/16 {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...

21Mar3:17 pmEST

Apple's Elephant Rally

AAPL's rally of late may very well be a microcosm for what we have seen in general since February, albeit at a much slower place. On the daily chart, below, Apple made it back to $105, a prior level of significance, before shooting up and then reversing off today's event. Still, you can see the overall technical damage has not yet been healed,...

21Mar1:03 pmEST

The Missing Link to Solve This Case

After a slow morning, the indices are drifting while biotechnology benefits from a rotation down. Commodities are largely in digestion mode, save sugar remarkable rally continuing--We have our eyes on corn, too. And are stalking this consolidation in coffee closely. As for the precious metals and mining complex, the missing link to solve the...

21Mar10:45 amEST

Underwater Green

Valeant is looking to punish some overly-ambitious shorts this morning, with VRX up nearly 15% as I write this in a flattish broad market trading session, thus far. On the 30-minute chart, below, note that price is back up to what should be an initial difficult level. Above $31.50 today, and I suspect we could see a continuation of a squeeze....