Monthly Archives: May 2023
Showing articles 11 - 20 (24 total)
18May3:14 pmEST
There's Something About AI
More divergences piling up outside of the AI craze in NVDA GOOGL, etc.. Besides glaring weakness in China plays, we have the REITs, below on the IYR ETF daily chart, soft and threatening to continue lower as rates move higher. DRV is a more liquid bear ETF than SRS worth watching for the group. I understand it seems like "nothing matters" for...
18May10:08 amEST
Triple Play Divergence
"But the Nasdaq doesn't care," is a popular--and true--refrain from bulls right now, when hearing of various headwinds and negative divergence equities are facing. Indeed, seeing NVDA pop above $300 this week is truly something to behold. That said, one of our two main scenarios with Members was that we would see a final pop higher in markets...
17May11:15 amEST
It was Japan All Along
We have discussed the bearish action in China names quite a bit lately, be it the FXI country ETF or the KWEB ETF for high beta China internet names. Indeed, the weakness in China, including relative softness to the Nasdaq in this morning's tape, has taken quite a few bulls by surprise who had been adamant that a China re-opening would spark a...
16May11:09 amEST
They're Using the Same Playbook
GOOGL NVDA MSFT AMD are among the top performers in the QQQ so far this morning, all of which share the common thread of being very large cap tech stocks and also share the common bond of being the few, the proud, the mighty names which fund managers and retail traders seem comfortable diving into when everything around them appears to be in...
15May11:26 amEST
These Stocks Are in the "Zone," Alright
I charted O'Reilly Automotive Inc. (ORLY) on the quarterly timeframe both with Members and the main feed earlier this morning. But even the daily chart for ORLY shows a parabolic move higher as it was one of the clear beneficiaries of the QE/ZIRP era and then the "stimmies" from the pandemic as Americans went bonkers throwing money into their...
14May10:55 amEST
Weekend Overview and Analysis 05/14/23 {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...
12May1:04 pmEST
Are We Sure the Dollar is Done?
The U.S. Dollar is rather quietly putting the finishing touches today on a strong week. Despite all of the talk of "De-Dollarization" and the like in recent weeks and months, you can see the weekly UUP ETF chart, below, show the big green weekly candle we are finishing today as well as the overall triangle consolidation/correction since last...
11May2:46 pmEST
Battle on the Bridge
Imagine a market being fought in real-life on a bridge. On one side of the bridge we have the FANG mega cap monsters, and on the other we have the regional banks. In the middle of the bridge are many other sectors. Which side will wind up with the most manpower? Well, for starters, if the REITs (commercial real estate in the IYR ETF, first...
10May11:46 amEST
Little Homebuilders on the Prairie
The strength in homebuilders since last October 2022's lows has indeed been impressive, even though the sector is still well below its prior late-2021 all-time highs as you can see on the XHB ETF weekly chart, below. We can also see, however, prior support from earlier in 2021 now potentially converting into resistance. In fact, I am expecting...
09May9:50 amEST
Back in the Saddle
Seeing as the S&P 500 is trading pretty much exactly where it was one year ago at this time, it occurred to me that this period may very well be referred to as, "The Great Drain." So what is being drained? Brokerage accounts? Mental and emotional capital? Careers? Precious time on Earth? Perhaps all of those. However, I am specifically...
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About
“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.
