MarketChess

16Jun3:00 pmEST

Dazed and Confused Stocks

Even with escalations over the weekend between Iran and Israel the "nothing ever happens" mantra/meme on Wall Street seems more relevant than ever with equities rallying today after last Friday's initial selloff. Semiconductors and the Nasdaq, overall, are leading the move, while various rate-sensitive sectors like REITs (IYR), housing, and...

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13Jun3:08 pmEST

Afternoon Update 06/13/25 {Video}

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12Jun2:54 pmEST

Minsky Moments in Time

“(S)tagflation is the price we pay for the success we have had in avoiding a great or serious depression. The techniques that have been used since the mid-sixties to abort the debt-deflations have clearly been responsible for the stepwise acceleration in the inflation rates” -Hyman Minsky Earlier today I saw @sidprabhu on X link back to some...

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11Jun2:20 pmEST

Ceremonial Viciousness

I find it hard to believe in a pure coincidence regarding this afternoon's fade in equities just as the IWM finally--finally--tagged its 200-day moving average from below.  As you know, the Dow, S&P, and Nasdaq have all tagged and exceeded their respective 200-day moving averages during this rally since April. All that was left was for the...

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10Jun12:03 pmEST

Subtle Detective Work

On the surface it seems like another low volume session drifting slightly higher for the major indices, even with some major American cities like Los Angeles facing various disruptions from protests, riots, and looting.  From my perch the market seems far more focused with the ongoing trade talks with China and looming inflation data tomorrow...

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09Jun2:45 pmEST

Try This for a Thought Experiment

Imagine you find yourself at a cocktail party with traders who mostly began getting involved with markets around the pandemic. Over the course of the evening you make your way around the room and chat up virtually everyone there. To be sure, all of them would be familiar with ubiquitous themes and tickers like AI, NVDA, PLTR, Magnificent 7...

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06Jun2:17 pmEST

Afternoon Update 06/06/25 {Video}

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05Jun12:38 pmEST

That's a Crazy Broad...com

Broadcom (AVGO), below on its quarterly chart, reports tonight to headline an intriguing late-season lineup alongside DOCU and LULU.  The San Jose-based semiconductor firm is valued at $1.25 trillion market cap as I write this, which may take quite a few of you by surprise since Broadcom is not considered not be quite in that "Magnificent 7"...

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04Jun2:25 pmEST

Things That Make You Go HIMS

While it is still technically spring outside and on the calendar, stocks are already operating as though we are fully into the summer doldrums with a daily drift higher seemingly outweighing any and all bearish headlines or potential volatility events. However, as we have been noting the setup remains in play for June to wind up being the...

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03Jun3:11 pmEST

Waiting to Exhale

Netflix has not tested its 20-day moving average (a fairly short-term reference point) since mid-April. The QQQ has not since tested its own 20-day since April 23rd. And momentum darlings like HOOD are still chugging higher today.  That said, a retail favorite like HIMS is staging a notable downside reversal off a big opening move higher,...

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