MarketChess
Showing articles 451 - 460 (6634 total)
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...
03May6:36 pmEST
Taking a Break After the Death of My Mother
Early one Saturday morning about a week after last Labor Day, September 2022, my mother called me and asked if I wanted to go down to Seven Presidents Oceanfront Park in Long Branch, New Jersey with her. I had other plans that day, but something told me to break them and go with her down the shore. And so I did. It was a glorious...
03May10:46 amEST
Enough Georgetown Cocktail Parties, Jerome
I know it is a tough world out there, Jay Powell. Everyone from Bill Ackman, hiding his ruthlessness behind a perfect facial exfoliation, to CEOs, long-only investors, economists, among others, are pressuring the esteemed Fed Chair to pause from hiking rates later today at the FOMC around 2pm EST. Beyond that, many are calling for Powell to...
02May12:50 pmEST
Evidence of My Conviction
I continue to view the current overall market structure as being one of the rare moments to have deeply held conviction that equities will eventually resolve sharply lower this year. And although I have had my fair share of stop-outs and miscalculations earlier this year insofar as the endless bids underneath the indices, I still see the lack...
01May11:22 amEST
Pre-Fed Pause with a Splash of NVIDIA
NVDA strength is masking an awful lot of red in tech-land this morning, although that is nothing new with this narrow market. The larger issue is whether the market is waiting totally on the Fed, come Wednesday afternoon with the FOMC. We also have AAPL earnings Thursday before the jobs report Friday to kick off the new month with a bang,...
28Apr1:33 pmEST
Dress Those Windows
Even with tech showing some relative weakness thanks to AMZN and SNAP selling after earnings, the reality is that this market is giving that all-too-familiar levitation dance into the end of month. Indeed, it may seem like April went by fast but either way today marks the final trading day of the month which means w could easily be seeing...
27Apr10:14 amEST
Facebook Face/Off
We have META (formerly Facebook) and other large cap techs leading the Nasdaq higher early on, while chips are soundly red and the likes of ARKK lag behind. Regarding META itself, I see $250 just above spot price to see if we have the makings of a new uptrend or, instead, the final pop before a new leg down commences. Overall, my sense is that...
26Apr12:22 pmEST
Bring it in for the Real Thing
To dovetail with the Microsoft earnings rally, shares of AMD MU and NVDA are leading a relief rally for the suddenly-lagging semis. I had scaled part of a SOXS bearish ETF trade with Members earlier this week but am now debating adding back to it given this bounce. On the updated SMH hourly chart, below, the semiconductor sector ETF is getting...
25Apr11:36 amEST
Out with the New; In with the Old
One of our Members noted, on the back of the UPS earnings wreck, the gnarly looking bearish rising wedge breakdown in the IYT, ETF for the transports at-large, seen below, should not be taken lightly. I realize we supposedly live in a new world where gunslinging speculators feel like all the old warning signs like Dow Theory (whereby...
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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.
