MarketChess
Showing articles 801 - 810 (6635 total)
10Jun10:30 amEST
A Short and Hold Idea
I went short MasterCard yesterday with Members, planing to swing the position for a good while if all goes well. Simply put, I have had a hard time not believing the monthly chart for MA, below, is sporting a major topping pattern after more than a decade of almost nonstop bull market wins. As you know, MA is an iconic credit card global...
09Jun4:26 pmEST
Stock Market Recap 06/09/22 {Video}
The following video is a brief, condensed version of the Stock Market Recap which I present each evening 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. If you enjoy my videos and blog posts, then please...
09Jun10:51 amEST
The Near-Term Fate of Markets Rest on These Two Setups
A bit dramatic? Sure. But with the algos playing ping-pong pretty much all this week in front of the CPI data tomorrow morning, followed by the FOMC and OpEx next week who can blame me? As QQQ flirts with $305 support, we have TSLA giving bulls a glimmer of hope for a rally just as economic negativity seems to be reaching critical mass. On the...
08Jun2:17 pmEST
Stuck in the Middle with You
We typically do not get this sort of "summer doldrums" action until after the July 4th break. However, in front of CPI this Friday, then FOMC next week with OpEx, our core thesis with Members over the weekend in our full Strategy Video was a lull into at least CPI. Thus, keeping things light and tight was probably correct as that lull clearly...
08Jun10:16 amEST
Now This is a Battle
Early on we have some of the strongest parts of the market of late, like materials and shippers, looking at a shakeout while the beaten-down growth names, using ARKK as a reference point, leading the action higher. Overall, the Dow is soundly red and lagging while many individual growth names are fighting to stage relief rallies higher. With...
07Jun3:37 pmEST
Just Thinking Out Loud Here...
Should Treasuries not only fail to follow-through lower off Monday's weakness, but actually continue on higher after today's bounce (which means rates go lower), it would give bulls in both bonds and (growth) stocks the fodder they need to declare a bottom. On the TLT daily chart, updated below, we can see that possible scenario as...
07Jun10:15 amEST
Energy Bull Market Dynamics
It occurred to me last evening, while out for a drive, that each time in recent memory I have been out driving around both on surface roads as well as on the Garden State Parkway and New Jersey Turnpike I have seen reckless drivers drag racing each other, weaving in and out of traffic. Simply put, that is typically not the behavior you see...
06Jun10:21 amEST
Watch Your Back
Another $305 support test on the Nasdaq's QQQ ETF, below on the updated hourly timeframe, looks to have held as bulls kick off the first full week post-Memorial Day with a move higher. With the Consumer Price Index (CPI) not coming out until Friday morning, followed by the FOMC next week, bulls may very well benefit from a bit of a (relative)...
05Jun9:29 amEST
Weekend Overview and Analysis 06/05/22 {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...
03Jun11:36 amEST
Last Stand Hill
More weakness than I had anticipated after the jobs report this morning is seeing the Nasdaq lead a dive lower in markets. Negative comments from Elon Musk are not helping the cause either, as TSLA swoons and its heavy weight surely is a drag on the S&P and Nasdaq, too. In fact, the TSLA weakness is likely overshadowing some intriguing strength...
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About
“chessNwine” has been a popular trader and financial blogger since 2009. His work has appeared in The Wall Street Journal Online Edition, Yahoo Finance, TheStreet.com, Josh Brown’s The Reformed Broker blog, AbnormalReturns.com, Barry Ritholtz’s The Big Picture blog, and the “Suggested” stream on Stocktwits.com.
