“The two most powerful warriors are patience and time.” – Leo Tolstoy

As we wait for more CB speak, we’ll have to see if the markets starts to actually believe FOMC members and the hint of policy shift from other CBs around the world. For now, it seems that they are still seeing it as more bluffing and unwilling to give up the steady grind higher.

As we discussed in our latest weekly outlook video, our focus remains on the NQ and what we consider to be real structural cracks that appeared last Friday.

As always there is no substitute for real-time/live action; 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.