MarketChess

07Jan2:46 pmEST

MGM Headed for Another Grand Top

The major brick and mortar casino stocks, LVS MGM WYNN, are all down around 3% or more as I write this. LVS and WYNN have plenty of Macau and international exposure. But MGM remains chock full of properties up and down the Las Vegas Strip, such Bellagio, ARIA, MGM Grand, Mandalay Bay, Park MGM, New York-New York, Luxor, and Excalibur, as well...

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06Jan1:35 pmEST

The Best of Tech Times, The Worst of Tech Times

With the major indices rallying again today it seems hard to believe that the Magnificent 7 ETF, first below on the daily timeframe, is flashing red. Furthermore, MAGS has been dropping steadily since the Friday after Christmas. But with Apple, GOOGL, and now Tesla unwinding, it seems to be weighing on the ETF.  On the opposite side of tech...

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05Jan11:32 amEST

I Require Context

Too often we look at stocks in a vacuum, moving in the immediate aftermath of a major news event in lieu of the prior context of those charts. In doing so, we miss out on clues as to whether the stocks and sectors were already raring to go for a significant breakout or, instead, have been merely aimlessly flopping around or in a trend opposite...

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31Dec12:04 pmEST

The Royal "They"

(Painting:  Tax Collectors by Quinten Massys [1466–1530]) As we count down the final hours of 2025, equities are mired in an underwhelming "Santa Rally" period, thus far. To be fair, the Santa Rally does not officially conclude until next Monday, January 5th, 2026, at the closing bell. Also, just because the Santa Rally disappoints it...

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29Dec2:20 pmEST

"A" Top Versus "The" Top

I must say that it is a bit rich to see how many of the same folks who deny AI/tech is in a bubble are quick to call the big, bad, top to precious metals after their recent run. While it is certainly true that silver, palladium (below, on the daily chart for the PALL ETF), and platinum have all seen abnormal spikes in recent sessions, the...

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26Dec2:54 pmEST

Afternoon Update 12/26/25 {Video}

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23Dec3:36 pmEST

Go to Australia for the Final Puzzle Piece

Melbourne, Australia-based. BHP (formerly BHP Billiton) is valued just north of $150 billion market cap currently. As far as miners go, that is pretty much as big as it gets. The firm focuses on non-precious materials, such as iron ore, copper, metallurgical (steelmaking) coal, nickel, and potash (for fertilizer). Alongside other larger global...

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22Dec1:50 pmEST

Christmas Week Drift

We have two and a half trading sessions this week before Christmas Day on Thursday, followed by what should be a ghost town of a full session on Friday. To be sure, plenty of market players have already closed up shop for this calendar year and are on holiday until January 5th, 2026. But for those sticking around we have identified some...

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19Dec2:38 pmEST

Afternoon Update 12/19/25 {Video}

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18Dec2:57 pmEST

Circular Financing, Circular Patterns

The Alger AI Enablers & Adopters ETF (ALAI), below on the daily chart, is composed of fifty-seven holdings, with the heaviest weights naturally assigned to AI monsters and market leaders like NVDA MSFT AMZN APP META GOOG and TSM.  As you can see we are looking at a potentially game-changing bearish head and shoulders topping pattern, spanning...

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