“I will not allow yesterday’s success to lull me into today’s complacency, for this is the greatest foundation for failure.” – Og Mandino
Volatility is back and as we have been discussing in our updates and outlook videos, participants should not be surprised by Newton’s Third Law. However, as seasoned traders know, the velocity of moves is greater to the downside… the focus for today has to be on the VIX complex as no one knows what is going to happen to all these instruments and if indeed, some of them will even trade…
Hopefully, we are moving back to a market where managers can distinguish themselves by using their experience/skills to allocated to real opportunities rather than blindly buying anything under the sun. Remember that the markets are still firmly is bull territory but volatility is giving us the opportunity to ‘make hay when the sun is shining’.
Apart from the VIX complex, another key focal point will be Crude; they last thing the bulls want to see is a break and hold below that key weekly bull/bear line in the mid 62s… we can’t stress enough how important this level is, not only for Crude but for the overall risk sentiment in current market conditions.
Reminder if you are interested in the Foundational Webinar Series > New Session.
Note for active 50Scouts members: make sure you keep an eye on your inbox for a free pass to Friday’s daily webinar session (make sure to check your spam folder too). This looks like really good timing for as we’ll have plenty to discuss and review 😉
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.