Stocks Up, Dollar Down!

I have seen many storms in my life. Most storms have caught me by surprise, so I had to learn very quickly to look further and understand that I am not capable of controlling the weather, to exercise the art of patience and to respect the fury of nature.” – Paulo Coelho
Pretty impressive moves off the lows on equities. As we said, sharp rallies after the kind of down move we saw should not be a surprise but the velocity of the moves back up has been surprising.
Yet another time, we are being reminded that markets are moving to a new rhythm. To be clear, we are not in the ‘this time it’s different camp’ but it’s important to understand the current context in order to adapt and manage around these moves. We’ll talk more about this in session later on today.
No change to what we discussed in our latest weekly outlook video and focus should still be on the Key Drivers we have been discussing in detail. If we had to focus on one chart today, then it would be DXY; we suspect that short term momentum and tradable opportunities rest around the ability for the usd stall a bit. Remember that we are heading into a 3 day weekend.
Reminder if you are interested in the Foundational Webinar Series > New Session.
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.
Wishing you a great day ahead.

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