MarketChess

03Jun11:36 amEST

Last Stand Hill

More weakness than I had anticipated after the jobs report this morning is seeing the Nasdaq lead a dive lower in markets. Negative comments from Elon Musk are not helping the cause either, as TSLA swoons and its heavy weight surely is a drag on the S&P and Nasdaq, too. In fact, the TSLA weakness is likely overshadowing some intriguing strength...

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02Jun3:08 pmEST

Fighting Amidst the Chaos

The chaotic nature of bear markets means, at times, that bears themselves need to make sure they are not trapping themselves. Currently, we have more evidence from today's price action that the bottom from late-May is proving to be a near-term good low. To be clear, I do not expect those lows to hold into the back half of 2022.  However, you...

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02Jun10:22 amEST

This is for Fighting, This is for Fun

The main point we have been stressing to Members of late has been that one must put into proper context and perspective all of the herky-jerky price swings the market has been sporting. In fact, one would almost think with the precision and the manner in which the buy and sell programs have been alternating that this were some kind of basic...

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01Jun3:38 pmEST

Got a New Company for You

Recent IPO EE is worthy of our attention. First, the company description: Excelerate is changing the way the world accesses cleaner, more affordable and reliable energy by delivering regasified natural gas, benefitting hundreds of millions of people around the world. From our founding, we have focused on providing flexible liquefied natural...

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01Jun10:19 amEST

On the QT and Very Hush-Hush

A fade off the opening pop in equities coincides with the official start of "QT," or The Fed's quantitative tightening process whereby they begin to slowly shrink their enormous balance sheet with a likely load of toxic debt. June can often be a tough month for stocks, but it does raise a few spidey senses that so many are eager to look for an...

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31May3:08 pmEST

Distrustful of Eastern Promises

It looks like we will wind up with a red session today, coming off the holiday break. However, I am still inclined to think this bear market rally has some business above to really get people thinking the worst is over once and for all (I do not share that view).  In the meantime, wheat is getting sold hard today as a headline hit that the U.N....

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31May9:30 amEST

Searching for Pressure Points

As I am sure you gathered from our analysis before the holiday, we expect oil and gasoline futures to continue to push higher into the summer months as China reopens and the domestic U.S. economy sees cabin fever-ridden Americans spend whatever money they have left (or on credit) for summer vacations. On the surface, a local road trip seems far...

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26May2:36 pmEST

More Than Just Summer Driving Season

It is difficult to overstate just how bullish the price action in crude oil is right now (and gasoline), given the events of the last three months where we have seen Fed tightening, economic data points suggesting we clearly peaked in growth and could easily be headed towards recession by the end of calendar year, as well as the negative wealth...

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25May11:33 amEST

Bear Market Psychology 05/25/22 {Video}

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24May11:28 amEST

Snap Snaps Off, Reminiscent of Ancient Greece

Towards the end of the Ancient Greek civilization, after Alexander the Great's empire in 323 B.C. until the utter defeat at the hands of the Romans in the Battle of Corinth in 146 B.C., the Ancient Greeks saw increasing participation in theatre. It seemed as though everyone wanted to be a performer all of a sudden which, perhaps, was a symptom...

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