“Of course, if a man is both wise and lucky, he will not make the same mistake twice. But he will make any one of the ten thousand brothers and cousins of the original. The Mistake family is so large that there is always one of them around when you want to see what you can do in the fool-play line.” – Jesse Livermore
What we would be keeping an eye on today:
(i) Indices around the pivotal levels: hold below increases chance of correction and offer interesting asymmetric opportunities
(ii) Crude closing below the pivotal 55 mark and holding heavy
(iii) USDJPY still not buying the magic carpet ride ramp in equities and still holding heavy
(iV) commodity currencies still heavy and pointing to more risk off
(V) bonds still holding the underlying bid
> all in all similar, tells across the board.
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