“Opportunities are never lost; someone will take the ones you miss.” – Andy Rooney
As we like to say; sometimes the best trade on the board might be the one you are already holding. As discussed in our latest Weekly Outlook Video, we suspect that in terms of the bigger picture / bigger trades, both the longs and shorts have placed their bets and we just have to be patient and wait for the ranges to break in a decisive manner. Until then, short-term players will continue to get chopped up by the velocity of moves inside the ranges that seems to be filled with air-pockets (low liquidity chop).
As frustrating as it may be to not see any real sustained moves, we can’t control the market, only try and take advantage of what it decides to do. No matter how ‘irrational’ action may seem according to what we perceive to be the norm; despite the recent jobs report, US military action in Syria and so on… it is what it is… you can only patiently wait.
Here are some update charts to highlight where we stand:
If you are interested in attending a daily morning call into NY with a more detailed live discussion on all the charts and ideas we highlight/review in the outlook video and here on the blog, you should check out our Daily Webinar Group.