“It is better to be late, and catch the right worm, than catching the snake’s tail.” – Benjamin Lee
Highlighted in our latest weekly outlook video, the real action is probably waiting for us towards the back end of the week. As discussed, context is key and markets have a tendency to press the pain trade as far as possible, especially in low liquidity o/n times and as market participants wait for high risk events to hit the wires.
Experienced traders understand that markets tend to behave in a healthy manner the majority of the time but this does not mean that they do so all the time. Even if this latest comment may seem trivial, it is very hard to build a long-term career as a traders unless one really understands this and adapts accordingly. We’ll keep the rants for the Daily Webinar 😉
Nothing much to add from what we discussed, so we will just leave you with a selection from our chart book:
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.