MarketChess

25Nov2:42 pmEST

Tremendous Moxie for Their Size

As slippery and untrustworthy as oil has been, you cannot deny the moxie, grit, and underlying bid that the oil services and equipment stocks in the OIH ETF have showing for a while now. Case in point: Even with crude having a soft session (but rallying off the session lows as we speak in the USO ETF) NBR (below on the daily chart) is one of...

Read More

24Nov3:16 pmEST

They Just Keep Boozin' it Up

With a conspicuous lack of adults in the room inside the Beltway these days, the goal of The Fed and White House seems to be to perpetually goose asset prices and stave of recessions forever, or at least during the lifetime of their power. Just today we have the third quarter GDP estimate data release cancelled, while the PCE (The Fed's favored...

Read More

21Nov2:53 pmEST

Afternoon Update 11/21/25 {Video}

Read More

20Nov11:57 amEST

We've Been Here Before

After an emotional post-NVIDIA earnings after hours session last evening we are seeing a broad market fade set in as we head into the New York lunch hour. While NVDA bulls are pointing towards bears' accusations of fraud as evidence per se of the pain trade being higher yet for AI, as I write this I see NVDA just flipped red, seen on the daily...

Read More

18Nov2:54 pmEST

More Horrors in the Crawl Space

I recently watched the well-crafted Peacock miniseries, "Devil in Disguise: John Wayne Gacy" (which blows the Ed Gein one out of the water, by the way, in terms of overall quality). Gacy, as you may know, hid the remains of most of his victims in the crawl space underneath his Norwood Park Township, Illinois, home.  You may forgive me for the...

Read More

17Nov3:11 pmEST

Growing More Dangerous

After a brief spike over 20 last month, the VIX (or Volatility Index, which typically measures expectations of fear in the options market) immediately moved back down into the mid-teens, a fairly common occurrence from this market regime we have seen over the years, particularly since the pandemic.  As we have noted often both here and with...

Read More

14Nov2:59 pmEST

Afternoon Update 11/14/25 {Video}

Read More

13Nov1:56 pmEST

Diminishing Returns

We are seeing a fairly steep broad sell-off this afternoon. And, perhaps, of even more significance is the fact that the likes of CNBC is struggling to assign a reason for said big move. It is often said that when markets sell off on (seemingly) no news it can be seen as all the more bearish, as opposed to headline-drive swoons.  Of course, one...

Read More

12Nov3:26 pmEST

Trapped But Plotting an Escape

The updated chart, below, of the QQQ ETF, on the hourly timeframe dating back to the October 29th highs exactly two weeks ago, pretty much sums up where the Nasdaq is at the moment. We have a corrective structure in the near-term, with bulls arguing this is but a mere blip before an inevitable end-of-year melt-up, while bears counter that every...

Read More

11Nov3:28 pmEST

Perhaps All Roads Lead Back to Exxon

Exxon, of course one part of the ExxonMobile Corporation since the 1999 merger, used to part of the Standard Oil trust, specifically Standard Oil of New Jersey. There is a rich history, some violent, some catastrophic, in my original hometown of Bayonne, New Jersey dating back to 1900.  Even with the long-term struggles of crude oil itself, it...

Read More