MarketChess
Showing articles 2011 - 2020 (6603 total)
30Sep2:59 pmEST
A Gold Top? Maybe. Maybe Not. Maybe Go to the Weekly Chart
Recent strength in the U.S. Dollar has coincided with a sharp pullback in the precious metals and mining complex, which should not be all that surprising considering the run the sector has had, by and large, since around Memorial Day. Still, once GDX (ETF for the senior gold miners, on its daily and weekly charts, respectively below) lost the...
30Sep10:32 amEST
In Need of a Magic Boost
It remains to be seen whether Wall Street will adhere to its old adage to, "Sell Rosh Hashanah, Buy Yom Kippur," this year, something we fleshed out in more detail for Members over the weekend. But with a modest bounce going this morning as I write this, the third quarter of trading may very well go out with a whimper today after seemingly...
27Sep10:18 amEST
Waiting for Things to Align Better
Another opening fade in both the small caps and especially the Nasdaq drives home the message just how choppy and indecisive the current market truly is. As we have been noting, this could be an "all of the above" function of end of month/quarter gamesmanship by fund managers, swirling headlines, shaking out bullish sentiment, or simply a...
26Sep3:21 pmEST
Slow and Steady is Losing the Race
The small caps housed in the IWM ETF seem to be at a do-or-die area right now, as illustrated on the IWM hourly chart, updated below. On the one hand, the smalls have pulled back off their rally throughout early-to-mid September in a fairly orderly manner. In and of itself, that seems to be bullish, as we noted a while back. But sooner or...
26Sep10:44 amEST
Already Baked Into the Bowl
With the House passing the cannabis-banking bill, or the "SAFE Banking Act," on Wednesday, hope for pot stocks to regain their old form seemed realistic. However, as one of our Members noted this morning, we have the likes of ACB APHA CGC CRON TLRY acting sluggishly, at best. Perhaps the good news was already baked into the cake (packed into...
25Sep12:05 pmEST
Stairs Up, Down, Left, Right
Another upbeat China trade war deal rumor sent stocks higher earlier this morning after a rather soft open for tech. To be sure, the lack of participation by software growth names continues to be a sore spot for bulls, especially a stock like COUP down 7% after holding up well compared to its peers for a while now. Despite the Dow up...
24Sep5:58 pmEST
Stock Market Recap 09/24/19 {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...
24Sep11:06 amEST
Staying Relevant
With only a few more sessions left in the third quarter of trading, it is worth revisiting some downtrodden former glamorous market growth leaders. Specifically, Netflix, Roku, and Square have all taken on the chin in recent weeks and months. In the case of NFLX the damage started with seemingly innocuous pullbacks in July. With respect to SQ,...
20Sep11:00 amEST
Summer Into Fall, Make the Call
Today marks the last trading day of summer, with autumn in the Northern Hemisphere beginning on Monday, September 23rd. Although the post-Labor Day phase has been in gear for a few weeks now, and the Fed meeting is in the rear view mirror, stocks are still searching for a more definitive clue as to whether or not they should sustain a...