So Easy, Even a Non-HFT (Human) Can Do It

03Sep12:27 pmEST

Many Battles on Many Fronts

Across various markets, some major battles are being fought in front of both the jobs number tomorrow morning and the long holiday weekend. The Euro, bonds, metals and miners, crude, even natural gas all merit close attention in the coming days and weeks, likely at technical junctures which would set up directional moves in the end of the...

03Sep10:37 amEST

Curb Your Joy

As tempting as the rallies in ACI and BTU have been in recent weeks, perhaps celebrating their survivor status in the morbid coal sector, the reality is that it would be brazen to give the "all-clear" signal for those names when you consider major coal machinery play Joy Global continues to get wrecked. On the updated JOY daily chart, below,...

02Sep4:58 pmEST

Stock Market Recap 09/02/15 {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...

02Sep2:55 pmEST

End of Summer Jump

Si Crude oil flipped green this afternoon, after sinking soundly into the red this morning following-up on yesterday's drubbing. Black gold has worked off its overbought condition from Monday, and is now threatening a secondary counter-trend rally. Much like surviving coal names like ACI and BTU, bottom-calling bulls are looking to see a...

02Sep12:35 pmEST

It's Supposed to Be a Non-Confrontational Holiday Week of Trading!

With premier leaders like NFLX getting hit, and crude oil taking a beating after the inventory report, we are seeing anything but a typically pleasant bullish drift higher into the long Labor Day holiday weekend. On the 30-minute chart, below, of the S&P ETF, the action over the last two weeks has morphed into a larger sideways channel....

02Sep10:25 amEST

Peanut Butter Fingers

Commodities continue to be slippery by nature, in terms of hold any rallies. True, crude is basing out reasonably well at the moment, considering yesterday's plunge. And USO may very well be building out a short-term bull flag. Still, more work needs to be done to cement any type of durable bottom. When it comes to precious metals and miners,...

01Sep4:54 pmEST

Stock Market Recap 09/01/15 {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...

01Sep3:06 pmEST

Don't Be a Meatball While This Arch Builds Its Bunker

Like clockwork, surviving (for now) coal name ACI saw some sellers finally come in after a strong rally at its declining 200-day moving average, the yellow line on the daily chart, updated below. Arch Coal has seen a potent "lockout rally" off its penny-stock lows, avoiding the bankruptcy fate that a few of its peers have suffered, instead...

01Sep12:08 pmEST

Crude, Where's My Higher Low?

Despite USO, the crude oil ETF, being down more than 6% today at various junctures, on the daily timeframe USO is still printing an "inside day," meaning today's price range is within the confines of yesterday's and not inherently bearish. We know crude had achieved an initial upside target which we observed last week and yesterday, as it...

01Sep10:28 amEST

So Easy, Even a Non-HFT (Human) Can Do It

To gain a "forest for the trees" perspective on the current market setup, consider the monthly chart of the Dow Jones Industrial Average, below. The very rudimentary, so-easy-even-a-non-HFT-can-do-it support trendline (light blue) dates back to the March 2009 bear market bottom, when the Dow was printing below 6,500. In August, the Dow...