Weekend Overview and Analysis 02/18/24 {Video}

29Feb11:44 amEST

It's Called Stealth for a Reason

The Nasdaq just faded to red as I am writing this. However, bears clearly need much more gusto than that to the downside in order to cement any kind of top. That said, I expect the stealth distribution in "Magnificent 7" names AAPL TSLA and now GOOGL to prove to be a leading indicator of where this market is headed in March, and perhaps...

28Feb12:10 pmEST

Floating the Idea of a Berkshire Top

Monday's big downside reversal after surging to fresh all-time highs for Berkshire Hathaway "A Shares" was noteworthy since it was, among other factors, occurring the first trading session after the Berkshire Annual Letter hit the news headlines all weekend with Warren Buffett's thoughts on markets and life. In addition, Berkshire's stock has...

27Feb11:31 amEST

Plenty of Coil in That Oil

In addition to natural gas starting off this week well we also have crude oil itself, below on the USO ETF daily chart, threatening to break well-defined resistance higher. You may have noticed gas prices creeping back higher at the pump, and that dovetails nicely with the energy commodities at-large showing signs go slowly waking up after a...

26Feb11:54 amEST

Two Tickers Fogging Up a Resilient Market

With GDP, PCE, a plethora of Fed speakers, plus increasing buzz about a government shutdown this week, the broad market is still resilient albeit mixed. That said, Alphabet and the REITs in the IYR ETF, respectively below on their daily charts, stick out so far today as two of the more glaringly weak parts of the market. I am, specifically,...

25Feb9:17 amEST

Weekend Overview and Analysis 02/25/24 {Video}

The following video is a brief, condensed version of the full-length Weekend Video Strategy Session which I present each weekend 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. Please click here for more...

23Feb3:37 pmEST

Afternoon Update 02/23/24 {Video}

22Feb11:19 amEST

Last Stand Hill

More jubilation from the AI crowd after NVDA's earnings report last night is seeing the semiconductors ramp higher this morning. NVDA itself is printing new highs, and a play like SMCI is all too happy to join in. Both NVDA and SMH are screaming back higher, punching up through their respective upper daily chart Bollinger Bands, indicative of...

21Feb10:14 amEST

I Aim to Kill You with It, Mmmhmm

CNBC was running a countdown clock graphic until NVIDIA earnings tonight, a guest on Bloomberg boasted that she advised clients to "sell puts" into the NVDA report as a low-risk strategy in case the stock goes down a bit, and various bulls on social media are one-upping each other in terms of their four digit price targets for the stock after...

20Feb12:08 pmEST

Packed with Broken Heroes on a Last Chance Power Drive

While I am not crazy about performing complex technical analysis on an instruments like the VIX (daily chart, below) since it is several steps removed from equities as derivatives, it is noteworthy that the "Fear Index" is attempting to break a long, sideways congestion zone higher again today. The low-to-mid teens has certainly been a...

18Feb10:59 amEST

Weekend Overview and Analysis 02/18/24 {Video}

The following video is a brief, condensed version of the full-length Weekend Video Strategy Session which I present each weekend 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. Please click here for more...