Are We Sure the Dollar is Done?

21May10:05 amEST

Weekend Overview and Analysis 05/21/23 {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...

19May3:12 pmEST

Just When No One Believes in Them Anymore...

Just when no one believes in reversal candlesticks anymore, to the point of not only failing to care enough to mock them (and bears) but outright display apathy to them, we have big, bad, Alphabet with its AI kick sporting a glaring bearish reversal candle today after a steep rally poking above its upper daily chart Bollinger Band (below). All...

19May11:28 amEST

Steam it Up

No fancy explanations here (more full analysis with Members). No over-analysis. Simply put, my call is volatility has bottomed for the rest of Q2 and possible into Q3. With vol having been crushed this much so far in 2023 headed into bearish seasonality and a ton of risk events/headwinds, the table is finally (finally!) set for asymmetrical...

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...