MarketChess

25Apr3:34 pmEST

Afternoon Update 04/25/25 {Video}

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24Apr3:34 pmEST

You Sure About That, Slick?

Both Chipotle and Tesla, respectively on their daily charts, below, are green after earnings this week, a point celebrated by bulls as illustrating that their prior multi-month downtrends had priced in all bad news for now.  However, the bounces are objectively not impressive thus far. Both CMG and TSLA remain in firm downtrends, with price...

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23Apr1:54 pmEST

It All Depends on Your Starting Point

"An old saying is that in a bull market, your time horizons grow longer and longer. In a bear market, they grow shorter and shorter." -Tom Gayner As much as we discuss various price levels and moving average reference points on the major indices, the fact remains that bulls view this abrupt rally the last two sessions as part an parcel of a...

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22Apr3:03 pmEST

I Scream, You Scream, We All Scream for Scoops

After yesterday's selloff we have a sharp snapback rally as stocks are, once again, resting their hopes on an imminent easing of trade war headlines, namely with China.  However, much seems to be lost in the plethora of swirling headlines, as seen by the one of the latest Charlie Gasparino tweets, below: As you can see, even someone like...

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21Apr11:07 amEST

Look at the Symmetry

There is plenty of noise out there right now so let us do our best to keep things simplified.  The VIX recently saw another spike like it did last summer and then a sharp giveback, just like it did last late-summer into autumn. It eventually went back into the teens by the holidays late-last year.  This time around, the precise issue for us is...

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17Apr9:29 amEST

Ten Years in the Books for Market Chess

If you have followed my work over the years then you know that I generally abstain from indulging in self-aggrandizing. The wins come, the losses come. That is life as a true speculator. I put myself out there every single day and let the chips fall where they may. So, there is no need for constant puffery--My work and personality are not for...

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16Apr10:12 amEST

Glass Half Empty Rally

Retail sales jumped this morning. China said overnight that they would be at least open to negotiations on the trade war and Taiwan.  And, yet, equities opened this morning with a sharp, Nasdaq-led gap down as NVIDIA leads lower by 6% on news of them facing a $5.5 billion charge as the U.S. restricts chip sales to China. In other words, despite...

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14Apr2:06 pmEST

An Inbetween Market

After a few stutter step fades earlier, stocks are drifting back higher as I write this into the heart of the afternoon part of the session. As we recently noted with Members, this is a holiday-shortened week (markets are closed on Friday) leading up Easter Sunday, which means one cannot rule out a low volume respite from the recent bout of...

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11Apr3:07 pmEST

Afternoon Update 04/11/25 {Video}

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10Apr3:23 pmEST

Beware the Nice Guy Syndrome

We have ourselves another day on Wall Street with extremely wide price swings. And, yet, it is another day where, as I write this, we are well off session lows into the final ninety minutes of the session as bulls continue to pound the table for a good bottom being firmly in place for equities.  Beyond the wild volatility, we have gold (and...

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