Clear the Tracks

20Apr1:49 pmEST

A Better Takeoff

Stocks are doing a better job of holding early strength today, as all major averages are making some technical progress even as we head into news-filled weekend in Europe. Materials plays like CLF and X are trying to wake up, though they have plenty more room to improve and earnings with which to contend in the coming weeks. But indisputable...

20Apr10:47 amEST

No Champs on the Champs-Élysées

In front of the French presidential election kicking off on Sunday, the major averages are still locked in a bit of a near-term stalemate. Even with this morning's opening gap higher, for example, buyers cannot quite reclaim the 50-day moving average on the small cap ETF, IWM. The S&P is putting in a mildly indecisive "doji" candle thus far,...

19Apr3:53 pmEST

Stock Market Recap 04/19/17 {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...

19Apr3:51 pmEST

Sector Rotation or Deterioration? We'll Do it Live

Another day in the market where the jury is still out as to whether we have a breakdown on our hands or simply more churning as bulls keep the tape afloat via sector rotation. Even as energy stocks and the mega caps in the Dow came in today, for example, broadcast and media firms like GTN (below on the attractive daily timeframe) benefitted...

19Apr1:47 pmEST

We Shall Return

Beyond the technical terms we often discuss when analyzing charts, a simple fact is that rangebound markets often return time and time again to precise levels to test them out and see if they are, in fact, legitimate. In other words, the inherent indecision associated with market ranges manifests itself when price continually probes a given...

19Apr10:56 amEST

Beyond the Burrito

We have a mixed tape this morning, albeit one where bulls can certainly make a case for having the upper hand as the small caps and Nasdaq stocks outperform. As I write this, the mega caps in the Dow are red but, then again, much of that can likely be attributed to the extreme weakness in IBM post-earnings. "Big Blue," as it is known, was part...

18Apr3:55 pmEST

Stock Market Recap 04/18/17 {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...

18Apr3:54 pmEST

Doc Hollywood Has to Hold it Together

More big earnings tonight, headlined by old school tech IBM and YHOO. But I am focused in ISRG, in the hot medical device space. This has been a huge leadership group for bulls even as laggards in healthcare like VRX have gone from bad to worse. So, I am looking to see if the clear daily chart, below, stays pretty much intact--Some selling...

18Apr1:30 pmEST

They Focus on Red Lines; We Focus on BlackLine

It is rather easy these days to become swept up in the fast-paced news flow of politics these days as a market player. But it typically does not amount to much in terms of how useful the information is, insofar as the market being a discounting mechanism and it already likely has considered a given thesis about geopolitics. True, exogenous...

18Apr10:49 amEST

Clear the Tracks

It has been a particularly frustrating five months or so for those expecting an imminent directional move in Treasuries. TLT, below on the daily timeframe, is a rough proxy as an ETF. But it does indeed illustrate the point that bonds have been flopping around like a fish out of water since November 2016. But with TLT breaching $122 in recent...