Weekend Overview and Analysis 04/10/22 {Video}

18Apr10:42 amEST

Clown Show Action off the Open

Amid the Elon Must/TWTR saga, Tesla squeezed up off a red open in front of earnings later this week. On that note, Netflix tomorrow evening gets us into the heart of major tech earnings season, which no doubt will be a test for this market before the next FOMC in the first week of May. However, it is not a broad-based tech/growth party this...

17Apr5:45 amEST

Weekend Overview and Analysis 04/17/22 {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...

14Apr11:15 amEST

Here's the Real Battle This Earnings Season

With markets closed tomorrow for Good Friday, stocks are mixed this morning as bottom-callers in Treasuries got caught into another spike in rates. As you might expect, the Nasdaq and many growth issues are not thrilled with rates pushing higher yet as TLT sells off further. However, from my vantage point the true battle awaits us all in the...

13Apr3:05 pmEST

No Big Deal, Just Eleven Year Highs

The XME ETF, below on its monthly chart, is printing levels not seen since August 2011 today, as coals, steels, and other materials housed in the ETF continue to get bid. As you can see, the way we got here is also relevant: Price broke out the last three months from a prior, tight base, which seems to reinforce the notion of an impressive...

13Apr10:28 amEST

Navigating the Bond Bear Landscape

Historically hot PPI and JPM earnings selloff be darned, this market looks to be attached at the hip to the happenings in Treasuries. With rates on the 10-Year Note easing a bit off widely-discussed overbought conditions, TLT (ETF for Treasuries' prices, inverse to rates) illustrates as much with a bounce from oversold conditions, seen on the...

12Apr3:10 pmEST

How Do We Spell This Relief Rally? D-R-U-N-K

While I try to avoid the alarmist, sensationalist type of market analysis, the stark historical reality is that markets which act poorly and fail to rally when they *should* (i.e., this morning after the much ballyhooed used car sales prices fell) become uniquely dangerous and vulnerable to wiping out much lower. I am becoming increasingly...

12Apr10:58 amEST

Let's All Trust Used Car Salesmen Now

Despite the headline that inflation rose at fastest pace since 1981 in March as the CPI (consumer price index) jumped 8.5% annually, markets initially looked beyond that and found mustard seeds in the idea that used car prices dropped 3.8% (even if 35% higher than last year). The drop in used car prices was then used as evidence that inflation...

11Apr3:36 pmEST

Which Way for Silver?

As rates keep pushing higher, we had an impressive opening pop in the precious metals only to see the usual fade. The good news for bulls is that they seem to be closing well here. Headed into the CPI print tomorrow morning, another big test looms for the metals. But the SLV daily chart, below, continues to look ripe for a fresh breakout...

11Apr10:22 amEST

It's Winning Time for Wheat

While oil fumbles and stumbles through what could still easily be a bullish consolidation, other commodities are back at it and threatening imminent, fresh breakouts higher amid the tech selloff. Wheat is my favorite at the moment, given the pristine weekly chart bull flag for the commodity's ETN, highlighted below. It has now been a little...

10Apr9:10 amEST

Weekend Overview and Analysis 04/10/22 {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...