Into Earnings and Phase 1

Investing is a game of skill –meaning inferior players can’t expect to be above average winners in the long run. But it also includes elements of chance –meaning skill won’t win out every time. In the long run, superior skill will overcome the impact of bad luck. But in the short run, luck can overwhelm skill, and the two can be indistinguishable. – Howard Marks

Key charts as we move toward the signing of Phase 1 and as Financials properly kick-off earnings in this OpEx week. All in all, the grind higher continues in this one-sided market. As we know, markets have a tendency of giving back these moves in a fraction of the time it took to complete them. The questions is ‘when’ not ‘if. This is going to be our focus in what will liekly be a pivotal period in the markets.
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