MarketChess

01Apr1:11 pmEST

Nice 'N' Easy Does it for Energy Stocks

Much like the commodity complex at-large we have some energy stocks clearly making progress on the technical front in recent weeks and months while others are still searching for a clear bottom--Gold, silver, and natural gas have made clear strides in recent months, with gold being the ringleader in commodities, while other commodities like oil...

Read More

31Mar1:18 pmEST

Drop, Stop, and Roll Up

What we have so far today in the market is a variation of the old, "Stop, Drop, and Roll," a fire safety technique used to extinguish flames if one's clothing catches fire.  In this case, it is more akin to a drop (at the open), a stop (dip-buyers step in), and a roll (slow grind up for the rest of the day). We have seen this pattern countless...

Read More

28Mar3:04 pmEST

Afternoon Update 03/28/25 {Video}

Read More

27Mar3:14 pmEST

Silent as a Mouse

Another impressively strong session for silver today. And another session where silver's strength is met with apathy.  On the first monthly chart, below, for the silver metal ETF, you can see the long-term strength reemerging after a fourteen year hiatus. The horizontal light blue line shows the ETF holding above a key level dating back over a...

Read More

26Mar2:54 pmEST

More Stealth Accumulation in Precious Metals

Once again we have another session of risk-off action in equities where an economically-sensitive metal like silver would normally be walloped. Instead, silver has basically been green all session, which is all the more impressive after yesterday's gap higher breakout attempt from its latest consolidation.  In addition, you will note the bottom...

Read More

25Mar1:59 pmEST

No, This is Not Normal

After being lauded for its stock performance to new all-time highs earlier this winter, Walmart has quietly corrected sharply in recent weeks. As I just noted with Members, the daily chart looks like an actionable short idea, since the recent bounce attempt has not gained much traction and is now shaping up as a bear flag.  For our purposes in...

Read More

24Mar2:30 pmEST

Getting a Bit Too Cute

As I wrote back on March 5th , "A Thousand Blows Could Ruin the Art of the Deal." Specifically, markets may stop assigning much faith at all to President Trump's use of tariffs as a now-you-see-it-now-you-don't negotiating tactic, given his propensity to dial back the rhetoric as he did last evening.  While bulls in equities today are...

Read More

21Mar3:26 pmEST

Afternoon Update 03/21/25 {Video}

Read More

20Mar1:56 pmEST

The Perfect Recipe to Limp Along

The FOMC has come and gone, with Powell soothing stagflation fears for the time being. Options expiration for the month and quarter is tomorrow. March Madness is underway as we speak. And Lord knows who is still, ahem, dehydrated from Saint Patrick's Day on Monday.  All of the above factors should make the price action today, thus far, not too...

Read More

19Mar3:27 pmEST

There's Something About Powell

Although the initial FOMC statement seemed stagflationary, what with higher inflation forecasts and lower growth projections by the committee, Fed Chair Powell did his usual bit of spinning things in a dovish manner at his presser. Specifically, he is sticking to his guns that inflation is transitory, coupled with the economy being in a good...

Read More