MarketChess
Showing articles 471 - 480 (6616 total)
23Mar10:34 amEST
Winter or Spring for Oil?
The calendar may have flipped to springtime, but with respect to crude oil's recent descending triangle bearish breakdown (seen below on USO ETF daily chart, which we previously highlighted in real-time both here and with Members) the issue is whether it is still just the beginning of winter for oil or not. $62/$63 was our key breakdown level,...
21Mar3:22 pmEST
The Dow: Invert the Problem, and Pattern
“Invert, always invert: Turn a situation or problem upside down. Look at it backward. What happens if all our plans go wrong? -Charlie Munger In front of the most uncertain FOMC's in quite some time tomorrow, insofar as what The Fed will actually do and say, or choose not to do and say, as well as the updated dot plots, equity bulls are...
21Mar10:14 amEST
Rates Should (Still) Be Headed Much Higher
*U.S. FEBRUARY EXISTING HOME SALES SOAR +14.5% TO 4.58 MILLION; EST. +5.0 TO 4.19M; PREV. 4.00M The above red-hot data which just hit the tape reinforces just how menacing inflation is this regime, despite how many bond bulls continues to harp on the banks and what they perceive to be a looming dovish Fed tomorrow and beyond. Even though the...
20Mar10:32 amEST
Even Swiss Bankers Have Lost Their Mystique
Swiss bankers, once regarded with a ton of mystique and for having a certain gravitas internationally, made headlines for the wrong reasons this weekend given the shotgun wedding deal between UBS and troubled CS, all while The Swiss National Bank backstopping. We also had the developed economy central banks around the world, including The Fed...
19Mar1:45 pmEST
Weekend Overview and Analysis 03/19/23 {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...
17Mar10:51 amEST
Kissing the Blarney Stone Chart Pattern
Today is not only Saint Patrick's Day, of course, but also options expiration for the month and quarter. This "OpEx" is occurring in front of the Fed Meeting next Wednesday, which is sure to be a high stakes affair. In addition, banks like CS and FRC remain in dire straits with any number of weekend risk scenarios for both sides of the trade. ...
16Mar10:53 amEST
We Didn't Go to Stock Market Hell
...we went to Purgatory, my friend! Depending on your positioning, timeframe, bias, and temperament, it may very well seem like this stock market has gone to Dante's Hell. However, the reality is that an objective look at the major averages mostly suggests Purgatory for now--The Dow, S&P, and small caps are all below their 200-day moving...
15Mar9:38 amEST
The Medium is the Message
The prophetic Canadian philosopher Marshall McLuhan's famous phrase, “The medium is the message,” suggests that the medium through which we choose to communicate holds as much, if not more, value than the message itself. Considering McLuhan died the same year as I was born (1980), he was way ahead of his time with his foresight about the world...
14Mar12:14 pmEST
Stocks Up, Rates Up, Playing Rough
The action is pretty self-explanatory today, even though it may not make much sense as inflation stays high and The Fed probably will still have to hike next week. Stocks are much higher but so are rates, which is a divergence. And on the S&P 500 Index daily timeframe, updated below, we could easily be seeing a standard retracement to the...
13Mar2:30 pmEST
Danger, Curves Ahead
If you think the volatility we have seen of late has been a lot, I suspect you will need to brace yourself for even more intense turbulence going forward. As an example, we some have seasoned market pros expecting an imminent Fed rate CUT, while others are still in the camp The Fed should keep on hiking by 25 bps if not 50. Mind you, this is...
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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.
