Stock Market Recap 10/08/19 {Video}

17Oct9:24 amEST

Make Yourself at Home

The housing sector continues to thrive to little fanfare, with homebuilders front and center in the ITB and XHB sector ETFs. Beyond some well-known builders like DHI KBH PHM are lesser-known but high quality ones like LGIH MDC SKY, among many others. For a while now, we have been tracking the relative and absolute strength in this sector both...

16Oct10:52 amEST

A Nap; Just Not a Dirt Nap

Software growth names are back in the doghouse this morning, be it due to a NOW downgrade or simply sellers reasserting themselves in the likes of AYX COUP MDB RNG SPLK WDAY, among others. Clearly, when we see these growth stocks come back under pressure it gives us pause regarding the potential for an imminent move to new highs in the broad...

15Oct5:00 pmEST

Stock Market Recap 10/15/19 {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...

15Oct11:05 amEST

Getting Un-Zuck

The large cap, glamorous "FANG" stocks in tech (Alphabet, Amazon, Facebook, Netflix) have been "stuck" in the mud of this market for months, regardless of how well Alphabet's chart has held up and been acting (in fact, GOOGL is my horse in this race and has been for a while). Even with GOOGL exuding impressive relative strength to, say, NFLX,...

14Oct10:46 amEST

Tesla's Chart on Autopilot

It has been a while since we checked in on shares of Tesla, Inc. Elon Musk's idiosyncrasies notwithstanding, the long-term chart for TSLA is actually rather anti-climactic in its action in recent quarters. On the first monthly chart, below, we can see as much, with corrections below $200 finding buyers for years now. On the other hand, rallies...

11Oct11:37 amEST

The Energy/Materials Bear Market is Dead; Long Live the Commodity Bear

It is hard to fathom that Exxon-Mobil, a Dow component with a $293 billion market cap, is trading at a level now that it was during the depths of the 2008 bear market. But that is where we are, not just with XOM, of course, but looking across the entire energy complex (OIH, XLE, XOP ETFs) as well as most miners/materials, precious and otherwise...

10Oct11:02 amEST

A Good Show at PNC

Wild overnight action is giving way to a relatively smooth cash open this morning for bulls. At one point last evening, as news hit of China planning on leaving early with no trade deal in place, it seemed like we could have some type of variation the limit-down BREXIT or 2016 General Election drama we saw in the futures back then. Instead,...

09Oct3:32 pmEST

We're All Just One Trade Deal Rumor Away from Humility, Bud

Semiconductors continue to impress this afternoon, as we can see how strong the group is capable of trading when we have positive China trade rumors. Of course, any moment now we could get hit with an abrupt turn of events to the negative side, which would likely hit chips hard given their inherent exposure to China in many instances. In these...

09Oct11:05 amEST

Eventually We Need the Real Deal

A more positive spin on the China trade war saga unfolded overnight, with hope for at least a partial deal sending futures higher which is spilling over into the cash session this morning. While I did not sell out of any longs into yesterday afternoon's final hour swoon, I also have been reticent to chase up bounces like this morning's. In...

08Oct5:24 pmEST

Stock Market Recap 10/08/19 {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...