MarketChess

03Apr2:20 pmEST

Sloppy Margarine or Smooth as Butter?

The main issue which intrigues me during this sell-off is whether we see margin calls (essentially forced, indiscriminate selling which often aligns with actual fear and panic as markets cascade lower) this afternoon into the closing bell, which of course is a function of brokers and risk management departments asserting themselves as markets...

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02Apr2:25 pmEST

Block Out the Noise

It looks like we will not know the full gauntlet of President Trump's tariff plans until after the closing bell today, with  a press event in the Rose Garden slated for 4 p.m. EST.  In the meantime, stocks have taken the liberty of rallying several times today, though as we speak we have a substantial fade well off session highs. The fact...

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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...

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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...

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28Mar3:04 pmEST

Afternoon Update 03/28/25 {Video}

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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...

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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...

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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...

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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...

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21Mar3:26 pmEST

Afternoon Update 03/21/25 {Video}

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