MarketChess

04Mar12:47 pmEST

It's Only Natural

After years of countless dips getting bought aggressively, "V"-shaping to fresh highs in short order even in the face of seemingly insurmountable bearish headwinds, it is only natural for shorts to now be concerned about getting caught up in a vicious squeeze at any moment. Similarly, it is only natural for bulls to now fear missing out on yet...

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03Mar3:30 pmEST

Trapped in the Same Hotel

After last Friday's late-day upside reversal, coupled with a Trump crypto pump tweet over the weekend, a familiar expectation was that today would annihilate short-sellers with yet another in a long line of face-ripping reversion rallies in light of the market's recent pullback.  As we have been noting with Members, however, that expectation...

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28Feb3:34 pmEST

Afternoon Update 02/28/25 {Video}

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27Feb2:42 pmEST

It's the Jacket

As it turns out, NVIDIA CEO Jensen Huang's famous black leather jacket  could not spawn another epic earnings gap higher this time around for the monster AI name. Instead, NVDA is down by more than 5% as I write this, with the semiconductors as a sector leading to the downside all session long.  In addition, the second largest SMH ETF holding...

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26Feb3:39 pmEST

A Copper!

News of Trump ordering a new tariff probe into copper imports  is seeing copper futures rally alongside a premier domestic copper miner like Freeport, below on its daily chart.  FCX has been underwhelming for a while now in 2025. However, I have highlighted a potential bottoming pattern with $41 being an upside trigger to usher in a breakout....

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25Feb2:23 pmEST

The Coming-Around-the-Mountain Pattern

It is not likely an exaggeration to say that the pattern of the major indices gapping down and printing the lows of the session within the first 10-90 minutes after the opening bell occurred several dozen--if not over a hundred times--over the last two years.  The buy programs would pounce on any initial weakness and ignite a furious squeeze,...

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24Feb12:50 pmEST

Battle on Two Fronts

NVIDIA is, of course, the focal point of this week's action, with earnings set to report Wednesday after the bell. True, we also have GDP and PCE data points later in the week. But NVDA, as the marquee mega cap at the epicenter of the AI mania, should determine whether bulls continue to party.  That said, this earnings week is also a kind of...

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21Feb2:57 pmEST

Afternoon Update 02/21/25 {Video}

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20Feb2:09 pmEST

Stay Stealth At Fort Knox

With a supposed looming audit of Fort Knox coming by the Trump Administration, gold and metals/miners are back at it again today. It seems particularly bullish and risk-on that the silver metal and the junior precious miners, below on the GDXJ ETF daily chart, are out in front of the complex. Of course there are also rumors of jumbo jets...

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19Feb2:31 pmEST

Drifting At Sea

The ETF for the "Magnificent 7" leading mega cap tech stocks, below on the daily timeframe, pretty much sums up the state of things with this market: We have a drifting tape, low in volume and narrow in range. Note how tight the apex of the symmetrical triangle is getting, with the lower highs and higher lows nearly converging.  History says...

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