Weekend Overview and Analysis 03/12/23 {Video}

21Mar10:14 amEST

Rates Should (Still) Be Headed Much Higher

*U.S. FEBRUARY EXISTING HOME SALES SOAR +14.5% TO 4.58 MILLION; EST. +5.0 TO 4.19M; PREV. 4.00M The above red-hot data which just hit the tape reinforces just how menacing inflation is this regime, despite how many bond bulls continues to harp on the banks and what they perceive to be a looming dovish Fed tomorrow and beyond. Even though the...

20Mar10:32 amEST

Even Swiss Bankers Have Lost Their Mystique

Swiss bankers, once regarded with a ton of mystique and for having a certain gravitas internationally, made headlines for the wrong reasons this weekend given the shotgun wedding deal between UBS and troubled CS, all while The Swiss National Bank backstopping. We also had the developed economy central banks around the world, including The Fed...

19Mar1:45 pmEST

Weekend Overview and Analysis 03/19/23 {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...

17Mar10:51 amEST

Kissing the Blarney Stone Chart Pattern

Today is not only Saint Patrick's Day, of course, but also options expiration for the month and quarter. This "OpEx" is occurring in front of the Fed Meeting next Wednesday, which is sure to be a high stakes affair. In addition, banks like CS and FRC remain in dire straits with any number of weekend risk scenarios for both sides of the trade. ...

16Mar10:53 amEST

We Didn't Go to Stock Market Hell

...we went to Purgatory, my friend! Depending on your positioning, timeframe, bias, and temperament, it may very well seem like this stock market has gone to Dante's Hell. However, the reality is that an objective look at the major averages mostly suggests Purgatory for now--The Dow, S&P, and small caps are all below their 200-day moving...

15Mar9:38 amEST

The Medium is the Message

The prophetic Canadian philosopher Marshall McLuhan's famous phrase, “The medium is the message,” suggests that the medium through which we choose to communicate holds as much, if not more, value than the message itself. Considering McLuhan died the same year as I was born (1980), he was way ahead of his time with his foresight about the world...

14Mar12:14 pmEST

Stocks Up, Rates Up, Playing Rough

The action is pretty self-explanatory today, even though it may not make much sense as inflation stays high and The Fed probably will still have to hike next week. Stocks are much higher but so are rates, which is a divergence. And on the S&P 500 Index daily timeframe, updated below, we could easily be seeing a standard retracement to the...

13Mar2:30 pmEST

Danger, Curves Ahead

If you think the volatility we have seen of late has been a lot, I suspect you will need to brace yourself for even more intense turbulence going forward. As an example, we some have seasoned market pros expecting an imminent Fed rate CUT, while others are still in the camp The Fed should keep on hiking by 25 bps if not 50. Mind you, this is...

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...