MarketChess
Showing articles 451 - 460 (6616 total)
14Apr10:51 amEST
Every Chance to Buy
You would never know it from the "inflation is cooling" headlines about the macro data this week (heck, even Rick Santelli on CNBC was boasting about his call that inflation has peaked), but rates are higher again this morning and on track for a higher overall week. On the updated daily chart for TNX, which tracks rates on the 10-Year Note,...
13Apr12:53 pmEST
Back and Forth We Go
Some additional cooler inflation data this morning galvanized bulls to bounce back from what I thought was a notable fade yesterday. And although rates are not collapsing (TLT is actually red) like I am sure bulls wanted to see, it does not much matter at the moment since the Nasdaq is screaming back higher and leading. Overall, the S&P and...
12Apr3:49 pmEST
Burned Out Stoner Buyers
It is certainly much more of an art than a science to discern if and when buyers are simply exhausted after an extended period of nonstop dip buying. However, today's price action certainly seems like a spot to opine that a cooler CPI could not help as much as many expected, given the tech/growth laggards and the late-day broad market...
12Apr11:46 amEST
New Buyers Late to the Station
While the CPI came in cooler than both I and the market expected, leading to an initial pre-market futures rally, semiconductors led a reversal lower off the open which is largely sticking as I write this. It is often said that markets which fails to hold rallies off "good news" are increasingly bearish, which means whether we get a recover or...
11Apr11:36 amEST
Find Where the Bodies Are Buried
With a whopping forward PE for 145, Snowflake is melting this morning in an otherwise mixed tape in front of tomorrow morning's CPI inflation print. However, SNOW is part of the suddenly lagging software sector, including CRM MSFT notable Dow laggards in the early going. Bulls will argue this is merely prof-taking after a strong run for MSFT,...
10Apr11:22 amEST
Still Looking for a Bear Trap in Rates
Color me firmly in the contrarian camp regarding two views which have increasingly become mainstream. The first being the death of the Dollar, or "de-Dollarization." The second being that rates have peaked and The Fed is more or less done hiking as inflation collapses. I am on the other side of both of those views. First and foremost, while I...
09Apr8:58 amEST
Weekend Overview and Analysis 04/09/23 {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...
05Apr11:41 amEST
The ARKK is Taking on Water
I am still short ARKK via a long SARK play. And as you can see below on the updated daily chart Cathie Wood's growth stock buffet is at risk of support trend and the key $38 level. Given the Nasdaq rally in Q1, the ARKK weakness is all the more concerning to the bull case. Going forward, I continue to look for another meaningful leg down in...
04Apr9:26 amEST
No Rate Cuts Without Calamity
After the spike up in crude oil so far this week, let us also remember that winter is behind us and summer driving season ahead. UGA, the ETF for gasoline futures, has been quietly flagging on the monthly timeframe, seen below. If this flag uncoils higher say, above $70, as we see gas prices rise nationwide I have a hard time seeing even this...
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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.
