Sweet and Salty

10Jun12:31 pmEST

Living the Good Life in Early Summer

Software plays in the technology arena, such as AZPN LOGM INTU, and several others, look to have as clean a breakout setup as any collection of charts I see in the market right now. While that is playing out, NFLX is still on a tear where, as I noted in my video last night, it is the type of play you are either long or sidelined, not short. ...

10Jun10:24 amEST

Eventually it Wears Off

ESPR is a biotechnology issue we traded inside Market Chess Subscription Services successfully on the long side a few months back. We took profits into the move towards $120 as the stock become short-term overheated, looking to buy it back if it set back up again. That never happened, though. Instead, ESPR is driving home a lesson lost or...

09Jun4:53 pmEST

Stock Market Recap 06/09/15 {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...

09Jun2:50 pmEST

Not So Fast with the Russian Victory

Much like with our analysis of Treasuries (via the TLT ETF) in recent months, when you see a chart ignore oversold conditions and "slide down" the lower Bollinger Band for roughly a week straight, it typically is a sign to become intermediate-term bearish even after the inevitable relief rally. Indeed, we may be seeing just that with the...

09Jun12:16 pmEST

Good Context for the Afternoon

Leaders like GILD and NFLX are working well to the upside today. But, overall it is still slim pickens out there in terms of broad-based breakout plays working in the tape. Dip-buyers are more focused, it seems, on stemming the tide of selling of late than they are catapulting us to fresh highs. For context this afternoon, I am keying off the...

09Jun9:50 amEST

Anatomy of a Natural Gas Trade

Inside Market Chess Subscription Services , we are playing UGAZ on the long side. UGAZ is the triple-levered long ETF for the natural gas commodity, while UNG is the straight-up ETF. When I trade the high beta levered ETFs, I like to key off the straight-up ETFs for technical analysis to keep things a bit more objective. Of course, I look at...

08Jun4:56 pmEST

Stock Market Recap 06/08/15 {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...

08Jun2:58 pmEST

The Worldwide Range

With the WWDC today, Apple was weak early on but found some intraday buyers at the lower support trendline, seen on the daily chart. I still view $130.57, just above, as being a critical level for buyers to hold over. So, for now, Apple remains rangebound and avoided a breakdown attempt today. In other markets, note the strength in natural...

08Jun12:27 pmEST

Making Sense of the Chaos

TASR seems to be the obvious play here, with headlines popping up again for this news-driven stock. The daily chart, below, shows an orderly consolidation within the context of an uptrend, after the stock's prior rally. In addition, TASR is a much better technical long setup than DGLY, another news-driven stock which has noticeably slipped in...

08Jun10:13 amEST

Sweet and Salty

At the moment, Tesla is breaking higher above $250 while Google is threatening to breakdown, seen on their respective daily charts, below. Both TSLA GOOGL are marquee brand names in the market, driving home the point that this market remain narrow in terms of momentum. Simply put, this is a case-by-case tape and has been for a while now. ...