Bears Need to Decide if the Bank is Worth the Risk

22Mar3:52 pmEST

They Still Allow Garden-Variety, Don't They?

While many market players and pundits seem to be quick to declare this market pullback or consolidation to be over, note the strongest index today, the Nasdaq, below on the ETF's daily chart, not even able to bounce up to the midpoint of yesterday's massive range. Bears will, of course, point to the small cap weakness. But even in terms of a...

22Mar1:24 pmEST

A Squeeze Play with Two Outs

From a contrarian perspective, it is interesting to see the timing of the new "Short Squeeze" ETF, SQZZ, open for trade today. First, some background, via BusinessWire.com ETF industry veteran Brad Lamensdorf launched today The Active Alts Contrarian ETF (NASDAQ: SQZZ), a first-of-its-kind actively managed ETF that seeks capital appreciation...

22Mar10:37 amEST

Intermission or the End?

After yesterday's violent reversal across the major averages for stocks, quite a few are already proclaiming the "pullback" to be over or near completion. A failed early bounce attempt this morning is not helping that thesis, with the small caps in the Russell 2000 Index most notably giving up the ghost. Another factor to consider in terms of...

21Mar3:42 pmEST

Stock Market Recap 03/21/17 {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...

21Mar3:34 pmEST

Nothing Like an Equities' Selloff to Send Gold Bugs Into a Frenzy

With GDX (senior gold miner ETF) breaking back over the key $23 level today as equities are selling off considerably, we now want to see if miners can clear their 50-day moving average (dark blue line, below on the daily chart) convincingly in order to set in motion a more sustainable rally. Also note that Silver Wheaton (SLW), a larger silver...

21Mar1:38 pmEST

UVXY: You Ain't Got No Alibi

Bears finally achieved some type of breakthrough today, with some of the heaviest selling equites have experienced in a good while taking hold after this morning's opening gap higher. The weakness in banks, namely BAC GS, remains apparent as I write this. Even though the weakness is being written off for political reasons, the reality is that...

21Mar10:49 amEST

New Dangers Below the Surface

The weakness in financials is at the forefront of the market weakness this morning, as their underperformance since last weeks FOMC is becoming a bit more pronounced while equities as a whole staged a "gap-and-fade" this morning. On the one hand, we do not want to become overly-sensitive to intraday market moves. However, the constant fading...

20Mar3:48 pmEST

Stock Market Recap 03/20/17 {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...

20Mar3:45 pmEST

Gotta Keep Hustling Like Raymond

With spring officially arriving this week, the market is off to a slow start with another day of consolidation or churning. Buyers stepped in over the last hour or so after an afternoon thrust down by sellers. But, overall, we have a slow tape on our hands. Still, it is important to keep putting in the work and hustling to identify those...

20Mar1:39 pmEST

Bears Need to Decide if the Bank is Worth the Risk

For the second session in a row, banks are lagging the tape as they continue their post-Fed rate hike "sell the news" reaction. The Wells Fargo daily chart, below, illustrates as much, with WFC losing some intermediate-term trend support today (or at least intraday). It would certainly behoove bears to make a push in the broad market lower in...