It's Tough to Conquer Even Aging Empires

13Mar10:31 amEST

Sleeping By the Bear

Despite the KRE (regional bank sector ETF) down another whopping 16% this morning on the back of SBNY SIVB getting wiped out and a whole host of other regionals getting walloped, bulls are piling into AAPL and Treasuries (as well as some crypto) with the hopes of riding this out as being a banking issue contained to the regionals. While that...

12Mar10:21 amEST

Weekend Overview and Analysis 03/12/23 {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...

10Mar10:24 amEST

Contagion Your Enthusiasm

After another 60% plunge pre-market, SIVB being halted with news pending is understandably spooking regional banks this morning. The KRE, ETF for the regional banks, below on the monthly timeframe to illustrate the bearish head and shoulders top forming before all this went down, is down hard with SIVB, as other banks like FRC PACW SBNY WAL may...

09Mar3:33 pmEST

...Until Something Breaks

The Fed can keep trying for a soft landing, and markets can keep rallying, "until something breaks," has been the rallying cry (literally) for bulls for a good while now. But with the SIVB crash today and banks overall leading lower, as well as the small caps in the IWM, the issue is relevant as to whether now something has, in fact, been...

09Mar10:17 amEST

Make an Example Out of Them

SVB Financial Group, below on the monthly chart, is getting walloped by more than 35% this morning after it launched a $1.75 billion share offering to try to salvage its balance sheet. The lender has many startups struggling from venture capital funding. Even though the broad market is staging a post-jobless claims bounce (it is fading...

08Mar11:53 amEST

More Cross-Currents Than the Port of Shanghai

Stocks are decidedly undecided through midday, as Powell's testimony today has a much more "data dependent" feel to it when he was specifically pressed on what The Fed would at the upcoming March FOMC. However, The Fed's mouthpiece, Nick Timiraos, did tweet out that barring cold data coming in The Fed could easily raise 50 bps later this month....

07Mar10:56 amEST

It's Only a Paper Currency

… It's a Barnum and Bailey world Just as phony as it can be But it wouldn't be make-believe If you believed in me Watching Powell in front of Congress this morning drives home the notion that he still lacks the sort of urgency which is likely necessary to truly fight off inflation. And while the market overall in 2023 and even since last...

06Mar10:17 amEST

What Do You Want Me to Do, Learn to Stutter?

Joel Cairo: You always have a very smooth explanation ready. Sam Spade: What do you want me to do, learn to stutter? The Maltese Falcon (1941) It is another Fed-dominant week coming up in the markets, with Jay Powell in front of Congress Tuesday then Wednesday mornings, followed by jobless claims and the NFP on Thursday and Friday,...

05Mar9:15 amEST

Weekend Overview and Analysis 03/05/23 {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...

03Mar10:06 amEST

It's Tough to Conquer Even Aging Empires

Bulls are feeling their oats again this morning, using the Bostic-led squeeze intraday yesterday afternoon to fuel a test of 4000 on the S&P 500 Index this morning. Rates on the 10-Year also dipped below 4% but are climbing back above that threshold as we speak. Without question, years and years of endless dip-buying being rewarded by easy...