MarketChess

15Nov11:56 amEST

Two Key Charts

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14Nov10:19 amEST

It's All Good, Man

With virtually every bit of news and development being construed by markets as good news, it is highly likely I will be taking off at least some bearish bets today if we do not see a fade into the closing bell.  Even with this morning's shellacking in rates, they are still considerably higher than where they started the year, which was my main...

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13Nov10:44 amEST

Emerge or Diverge

Besides the Dollar, to my eye to most compelling divergence to equities we are seeing remains rates remaining stubbornly high. This flies directly in the face of bond bulls declaring an end of the bond bear market, as rates ought to be cratering if The Fed truly were done hiking rates in a disinflationary environment.  But as you can see on the...

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10Nov2:59 pmEST

We All Gotta Get Along

A Friday ramp is more than negating the selloff yesterday from a spike in rates, coupled with Fed Chair Powell's hawkish remarks. Bulls are returning to the playbook we have seen throughout this year, essentially, of jamming mega caps like Microsoft higher and semiconductors, overall (the latter of which saw a massive fade in yesterday's...

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09Nov12:18 pmEST

Waiting to Pull Out the Big Gun

Notable weakness in the biotechnology sector ETFs, IBB and XBI, is spreading to Cathie Wood's ARKK ETF and even the small caps in the IWM at-large, so far today. In addition, the regional banks in the KRE ETF are below the key $42 level as we speak.  However, that weakness is being offset by persistent strength in the semiconductors, with...

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08Nov12:07 pmEST

The Lines, Chico...They Never Lie!

The S&P 500 is still negotiating the 4380 area, as seen below on the updated daily chart. This remains a level we have been observing with Members, even before the sharp rally over the last week and a half or so, with the light blue line, horizontally, remaining a constant on my chart. As they say, the lines, chico, they never lie .  While...

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07Nov1:28 pmEST

Plant the Flag Here

We have a mixed bag in the markets today, another in a long line of those in 2023.  Nasdaq names are doing the heavy lifting, with the likes of an earnings winner like DDOG way out in front. Meanwhile, small caps are red as I write this, with the regional banks (KRE ETF, daily chart, below) checking back to last week's breakout from prior...

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06Nov11:15 amEST

All You Can Eat, Baby

It truly is astonishing just how quickly of a consensus was reached last week, spilling over into the weekend, amongst market players and pundits that a year-end holiday rally is a cinch. Mind you, as we speak it is only early-November. And, yet, the price action into year end has been declared a can't-miss rally both in stocks and bonds.  On...

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05Nov9:15 amEST

Weekend Overview and Analysis 11/05/23 {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...

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03Nov12:34 pmEST

My Vision Differs From Yours

It has been an epic squeeze-fest this week, with the badly beaten-down small caps getting plenty of action to the upside.  As unpopular as it may feel and be, part of my job description is often relaying objecting analysis in the face of overwhelming emotions of any given moment in the market. What that means is many folks will have a love/hate...

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