Go with the Flow for Now

31Jan3:46 pmEST

Stock Market Recap 01/31/18 {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...

31Jan3:43 pmEST

Bitcoin Has 91 Problems But a Split Ain't One

After a run-of-the-mill 91-for-1 stock split took effect on Monday for the Bitcoin Investment Trust (GBTC, below on the its daily timeframe), an initial bounce ensued. However, that bounce is obviously long gone, as GBTC threatens to break down from what initially appeared to be a fairly standard consolidation pattern, highlighted in light...

31Jan1:09 pmEST

A Cliffhanger as the Yellen Era Ends

Janet Yellen, love or hate her policies, certainly will be remembered for being one of the more versatile Fed Chairs, probably through no fault of her own in terms of dealing with a changing global economic landscape compared to the Bernanke years. Either way, later this afternoon she will conduct her last policy meeting as head of the...

31Jan10:30 amEST

Adding a Little Spice

The major averages had mostly been in such benign melt-ups for a while there that it was more fruitful to look below the surface at sector rotations than it was to overanalyze specific price levels on the indices. However, recent volatility seems to have added a little spice into the mix regarding those index charts, making it more worthwhile...

30Jan4:38 pmEST

Stock Market Recap 01/30/18 {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...

30Jan3:51 pmEST

Another Wynn Update Into the Bell

They are not just lines of charts, since the market is telling us they are important (provided that we stay objective when we draw them). In the case of WYNN, the stock is getting its first real bounce today since the Steve Wynn news hit last week, and it is bouncing at a major, not minor, level. We looked at the $160-$162 area previously as...

30Jan1:17 pmEST

A Little Waterfall After a Long Journey

The Dow is off by nearly four hundred points as I write this, a seemingly jaw-dropping number if you have been trading for more than a decade until you realize on a percentage basis it is barely off by 1.5%. On that note, this little waterfall action is simply part of the game and should be accepted as such, even though the recent melt-up...

30Jan10:22 amEST

See's Candies No Evil; Hear No Evil

Warren Buffett, in perhaps one of his final acts of superficial white-knighting (Clayton Homes, cough cough) for the American people, was part of an announcement this morning that his Berkshire Hathaway, Amazon, and JPMorgan would be forming a health care firm "free from profit-making incentives" to lower costs for their employees. Putting to...

29Jan4:54 pmEST

Stock Market Recap 01/29/18 {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...

29Jan1:30 pmEST

Go with the Flow for Now

Early weakness has yet to snowball downhill in the manner I am sure bears want to see, as bulls did a good job this morning of defending $285 on SPY (actively-traded ETF for the S&P 500 Index), seen on the intraday chart, below, with a 5-minute "hammer" reversal candle. Keep in mind, this is a very short-term chart and should only be used as a...