MarketChess

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...

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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...

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25Mar1:59 pmEST

No, This is Not Normal

After being lauded for its stock performance to new all-time highs earlier this winter, Walmart has quietly corrected sharply in recent weeks. As I just noted with Members, the daily chart looks like an actionable short idea, since the recent bounce attempt has not gained much traction and is now shaping up as a bear flag.  For our purposes in...

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24Mar2:30 pmEST

Getting a Bit Too Cute

As I wrote back on March 5th , "A Thousand Blows Could Ruin the Art of the Deal." Specifically, markets may stop assigning much faith at all to President Trump's use of tariffs as a now-you-see-it-now-you-don't negotiating tactic, given his propensity to dial back the rhetoric as he did last evening.  While bulls in equities today are...

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21Mar3:26 pmEST

Afternoon Update 03/21/25 {Video}

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20Mar1:56 pmEST

The Perfect Recipe to Limp Along

The FOMC has come and gone, with Powell soothing stagflation fears for the time being. Options expiration for the month and quarter is tomorrow. March Madness is underway as we speak. And Lord knows who is still, ahem, dehydrated from Saint Patrick's Day on Monday.  All of the above factors should make the price action today, thus far, not too...

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19Mar3:27 pmEST

There's Something About Powell

Although the initial FOMC statement seemed stagflationary, what with higher inflation forecasts and lower growth projections by the committee, Fed Chair Powell did his usual bit of spinning things in a dovish manner at his presser. Specifically, he is sticking to his guns that inflation is transitory, coupled with the economy being in a good...

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18Mar3:43 pmEST

The Party's Over, Nerds

Headed into the FOMC tomorrow we have stocks pulling back. Overall, we are flopping around as we expected with Members early this week. The true test will be how the market interprets The Fed's tone and tenor tomorrow regarding future policy moves, meaning how dovish they appear. In the meantime, shares of Reddit (weekly chart, first below) are...

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17Mar12:41 pmEST

One Sniff Will Last You the Rest of Your Journey

The VIX (which is said to measure fear from the options market, or at least an options market taken by surprise of events) chart, below on the daily timeframe, dates back to last summer. But we also know that since the pandemic any and all spikes above the 20 level have been but a whiff, of which we got a sniff and resumed the bull journey in...

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14Mar3:14 pmEST

Afternoon Update 03/14/25 {Video}

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