We would like to stress the importance of what we discussed yesterday. Remember that the focus now shifts to how price will settle into the end of the week. Our base-case scenario remains for a weaker USD and for equities to soften into the end of the month.
As already pointed out, we would be keeping a very close eye on the weekly charts, not only to see if we do indeed get negative closes but especially to highlight the key dynamics that are playing out at pivotal levels. We will review and discuss this again in today’s webinar as it is crucial to understand what is playing out here.
Remember to keep an eye on Crude around the 60 mark and on action in XLU, IYT and XLF. We can’t stress enough how important it is to understand these charts and keep them on your radar.
ICYMI and you would like a little bit more flavor on our thinking, you can always check our: Latest Outlook Video.
If you are interested in a more structured way of tackling the business of trading, attending a live daily morning call or a more detailed discussion on the charts we post / trade ideas, don’t hesitate to check out our Premium content.