Monthly Archives: February 2023
Showing articles 11 - 20 (29 total)
17Feb10:39 amEST
Bashful FANGs
Whether or not you agree with my view that this remains a long-in-the-tooth bear market rally in equities, destined to plunge to new lows, is one thing. But it is still instructive to note relative weakness where we see it, especially among the mega cap tech monsters. Specifically, of the "FANG" names, two of the worst performers in 2023...
16Feb10:15 amEST
Multiple Counterattacks
After a hot PPI report this morning stocks are lower and rates are higher. As usual, the roadmap for bears to launch a successful counterattack here is predicated on them, first and foremost, decisively breaking and holding price below 4100 on the S&P 500 Index. After that, we can begin to look for follow-through lower most likely after options...
15Feb10:34 amEST
Off the Mat and Looking Good
Equities continue to go through periods of drifting up or sideways, as they have done this morning since an opening bell push lower, and then periods of reversing all over the place intraday to the tune of 1-2% in recent sessions. I view that type of price action, especially after a prior rally, as presaging a looming major reversal to the...
14Feb4:53 pmEST
Stock Market Recap 02/14/23 {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...
14Feb10:43 amEST
Two Words: Violent Indecision
We can look at charts and price levels all day if we want. But there is indeed something to be said for properly ascertaining the nature, tone, and tenor of the price action itself. And when we do, you will note the uptick in random price swings, fades both ways, and general indecision of late. Bulls seem cocksure on a nonstop short squeeze...
13Feb10:41 amEST
Officially Time for a New Decade
Although we are a few years into the current decade it seems like a new regime change continues to develop even though many deny its staying power. Specifically, for all but the highest net worth people in America it is highly likely that folks with money invested in markets will face tough decisions ("first world problems," as they say) as to...
12Feb9:25 amEST
Weekend Overview and Analysis 02/12/23 {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...
10Feb12:20 pmEST
The Ol' Head-Fake Jump
While bulls argue the last few days of weakness is yet another buyable dip and a benign consolidation after the one-way rally since 2023 began, when we examine, for example, the ARKK daily chart (below), there are more concerning items in play. First and foremost, Cathie Wood's growth stock fund is still sporting a declining 200-day moving...
09Feb3:32 pmEST
The Chart di Tutti i Charts
Are you sure rates have topped out? No, I mean, like, really, really, sure? Because if not, and you probably know I believe they will go much higher, many of the assumptions built into this risk-on rally in early-2023 can reverse rather ruthlessly. On the weekly chart for TNX, which is the Index for rates on the 10-Year Note (the big round...
09Feb10:14 amEST
Modern Battle Cry
"I do not know with what weapons World War III will be fought, but World War IV will be fought with sticks and stones." - Albert Einstein. Let's face it: The nuclear threat overrides plenty of factors when considering the next all-out World War threat, which is why we have seen variations of it on smaller scales ever since the end of WWII....
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“chessNwine” has been a popular trader and financial blogger since 2009. His work has appeared in The Wall Street Journal Online Edition, Yahoo Finance, TheStreet.com, Josh Brown’s The Reformed Broker blog, AbnormalReturns.com, Barry Ritholtz’s The Big Picture blog, and the “Suggested” stream on Stocktwits.com.
