“When we strive to become better than we are, everything around us becomes better too.” – Paulo Coelho
All about the central bank bonanza in terms of even risk today. Heads up for comments out of Sintra and therefore the chart of the day has to be DXY. We already discussed this in detail in our Latest Weekly Outlook.
As far as we are concerned, equities are just buying time. We still maintain that markets are extremely complacent here at highs and that internals are not pointing to healthy action. This does not mean they can’t go higher but it looks like we are slowly setting up for another ugly event (continue to keep an eye on Asia).
Don’t forget that the OPEC circus is still on-going and that the wires will be buzzing with developments out of Vienna…
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.