Call Me Kat; Call Me Dead Kitty Kat Bounce

03Oct10:59 amEST

It's Supposed to Be a Non-Judgmental Intervention!

With rumors swirling about Japan's Ministry of Finance intervening in currency markets to support the free-falling Japanese Yen, let us get one thing abundantly clear: Intervening (or perhaps the mere appearance and perception of it) in global markets by government entities and/or central bankers is always from a position of weakness and...

02Oct11:50 amEST

What's the Old Saying? Credit Leads

High yield corporate bonds (HYG ETF, first daily chart, below) are sporting fresh breakdowns this morning, not to mention junk bonds and investment grade corporates (LQD ETF on second chart). Simply put, credit is starting the month and quarter with a fairly resounding bearish tone amid higher rates. This action stands in stark contrast to the...

01Oct11:50 amEST

Weekend Overview and Analysis 10/01/23 {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...

29Sep10:31 amEST

Let Me Tell You a Couple of Three Things

Dow component and retail titan, Nike, below on the daily chart, is gapping up hard after earnings last evening. And just like with Disney, another Dow component, which gapped up in August after earnings, it would not shock be if all of the bullish cheers will soon be silenced again. Back on August 10th, Disney gapped up on earnings to a chorus...

28Sep11:10 amEST

Change the Seasons, But Not My View

With TBT, the ultra-short ETF essentially betting hard against TLT and betting on higher rates, poking above $40 this morning I decided to right-size my position in long TBT wither Members down to a regular, 2% size (meaning 2% of my dedicated Market Chess educational portfolio)--My cost basis on the overweight position was $28.85 and I have...

27Sep10:45 amEST

Look Who's Gapping Up with Oil

On the second daily chart, below, for the USO (ETF for crude oil), we see the recent tight bull flag that we highlighted with Members resolving sharply higher this morning. In addition, on the first daily chart we have the gasoline futures ETF, UGA, finding buyers on its recent dip. Recall that, seasonally, we are well beyond the peak of...

26Sep11:36 amEST

No Consolidation Lasts Forever

With the month and quarter coming to an end this Friday by the closing bell, have a look if you would, please, at the month and quarterly charts, respectively below, for the IWM (ETF for the small caps in the Russell 2000 Index). You are taking about uniquely extended periods of consolidation, to the point where many are assuming--rather...

25Sep11:16 amEST

You See Bottoms; I See Complacency

Stocks are slowly dripping lower with modest intraday bounce attempts, for now at least. However, the noteworthy action this morning is that both rates and the Dollar are spiking. I have not been shy at all in voicing my view that, ultimately, a new bond secular bear market is underway and that will be the undoing of the great equity chase...

24Sep11:04 amEST

Weekend Overview and Analysis 09/24/23 {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...

22Sep1:35 pmEST

Call Me Kat; Call Me Dead Kitty Kat Bounce

I suppose I could cherry-pick the weakness in NFLX TSLA or even the banks. But to my eye, as one of our Members has been tracking closely, the persistent weakness in airlines after previously being adored by bulls as a sign of the vibrant economy seems telling. On the updated JETS weekly chart, below, the mid-July reversal we highlighted in...