“My lesson from Soros is to start every meeting at my boutique by convincing everyone that we are a bunch of idiots who know nothing and are mistake-prone, but happen to be endowed with the rare privilege of knowing it.” – Nassim Nicholas Taleb

No change from our discussion on equities in the latest Weekly Outlook Video. We are happy to focus on the 50/100/200DMAs on ES and YM, letting them guide us as we wait for the next sustained move.

We continue to believe that Amazon, Netflix, etc… are an accident waiting to happen and that once single name ramps end, everyone is going to be looking back an scratching their heads finally realizing what an extraordinary and unsustainable phenomenon this has been.

Today we wanted to offer up some food for thought with a bigger picture monthly view of this incredibly important cyclical inflection point we are at going into FOMC:

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.