MarketChess

08Apr3:03 pmEST

Now That's a Fade

Today's fade off a 4%-plus broad rally from earlier in the session seems like more evidence that we are in a new market regime, transitioning from long-term bull to bear. Tons of market players and pundits alike, respected veterans included, have planted the proverbial flag in the ground in recent sessions to declare a bottom is locked in,...

Read More

07Apr1:15 pmEST

Yes, That Counts

With false rumors swirling all day today about alleged pauses and delays in tariffs, we saw the S&P 500 Index surge earlier from 4,826 up to 5,246 in a matter of moments. First and foremost, that sort of violence (hard and fast price swings, intraday moves) is far more characteristic of a bear than a bull market, overall. The reason being Bear...

Read More

04Apr2:54 pmEST

Afternoon Update 04/04/25 {Video}

Read More

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...

Read More

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...

Read More

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...

Read More

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...

Read More

28Mar3:04 pmEST

Afternoon Update 03/28/25 {Video}

Read More

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...

Read More

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...

Read More