“Reality is that which when you stop believing in it, it doesn’t go away.” – Philip K. Dick
As we sit through this low liquidity chop waiting for the Central Banks to enlighten us on their next course of action, focus will remain on where we close not on where we trade intra-week. Don’t make it harder than it should be by trying to read too much into the drive-by ramps and dumps.
No change to what we discussed in the latest Weekly Outlook Video. Remember that all-in-all, the ECB has a bigger chance of catching markets off-sides. Don’t forget to keep an eye on the wires for Oil headlines as we head into a key OPEC meeting next week. We’ll be discussing this in more and more detail as we get closer to the date.
We’re not huge fans of single-stock names but one can’t help but wonder if, especially after yesterday’s shenanigans, reality is catching up with Tesla and if we have just seen a significant swing high print.
Note for active 50Scouts members: *make sure you read out latest update* and keep an eye on your inbox for a free pass to Friday’s daily webinar session (make sure to check your spam folder too).
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.