MarketChess

01Jul11:04 amEST

The Pain Trade in Rates is Still Higher

Here at Market Chess we tend to follow-up on our bad calls, updating them and keeping readers and Members apprised. Because of that, there is a tendency for some to focus on those bad calls, as opposed to others who either conveniently ignore them or pretend that they are always winning instead.  The reason why I raise that issue is because one...

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30Jun10:04 amEST

Weekend Overview and Analysis 06/30/24 {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...

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27Jun12:08 pmEST

Hey Google and Softee, is That Your IQ or How Many Friends You Have?

The latest chase into the "Magnificent 7" names has seen GOOGL and MSFT, respectively below on their updated daily charts, melt to new highs as bulls have attained a new level for their aura of invincibility amid weakness in Micron,  NVDA, semis at large, not to mention names like CMG MA V.  However, I am looking for the intraday fades in GOOGL...

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26Jun11:48 amEST

It's Supposed to Be Non-Judgmental Intervention!

The Dollar/Yen currency cross, as tracked by the USDJPY ticker, is now back above where the powers that be intervened in Japan back in late-April. Essentially, the USDJPY crossing over $160 (which means a weakening Yen, since the Yen is the denominator) has been the level which has caused anxiety in the Land of the Rising Sun, and perhaps...

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25Jun11:25 amEST

The Daily Swindle

Although I still do not subscribe to the, "It's All Rigged!" view of markets, on days like today, in the context of yesterday's action, it all sure can seem a bit too coincidental.  Specifically, we have the inverse of yesterday: NVDA, semis, and tech are leading while virtually everything else is down or flattish.  That said, as I write this I...

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24Jun12:27 pmEST

Make Palladium Your Pal

South Africa, Russia, and North America are the top producers of palladium, one of the precious metals alongside gold, silver, and platinum. Of course, we know Russia these days is a geopolitical risk when it comes to commodities.  And that seems to be the case of late with palladium, seen below on the PALL ETF daily chart for the commodity. As...

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21Jun1:48 pmEST

Afternoon Update 06/21/24 {Video}

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20Jun10:52 amEST

Happenings in the Far East

Bifurcation, as we have been noting here and with Members, is anywhere and everywhere you look these days: Within sectors (tech), within major economies, across asset classes and global markets. This is the primary driver behind the vast amount of cherry-picking going on right now be it from bulls, bears, doves, or hawks.  But my main takeaway...

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18Jun11:59 amEST

Amid the Daily Melt-Up, Homebuilders Are Done

Despite beating estimates, homebuilder Lennar (first daily chart, below) is being sold fairly aggressively on lowered forward guidance.  After an epic rally from last Halloween 2023 into April of this year, the XHB (second daily chart, below) sector ETF for the homebuilders finally cooled off. Many assumed it was a mere pauses which refreshes...

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17Jun12:45 pmEST

The Curious Case of Bifurcation

Great visual, below, of just how bifurcated this market has become. Bifurcation is a concept that we have noted with Members in more depth. Simply put, it refers to the market losing its discipline beyond the standard "winners versus losers" you often see in capitalism. Instead, when the winners (tech, the blue line) become narrow and crowded...

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