Chart of the Day

“If you calmly observe, you will more clearly see situations for what they really are.” – Brahma Kumaris

Apart from the usual headline risk out of Washington, today’s focus will be on Super Mario and the ECB. Remember, that what really matters is how we close the day.
We’ll be discussing the DXY in detail today, especially how it relates to the current swing moves that are in play and new ones that may be setting up. Clearly, Cable is at a key inflection point.
No change in outlook on the indices side, moves are in play and we are eagerly awaiting tech earnings.
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Wishing you a great day ahead.

Chart of the Day

“My lesson from Soros is to start every meeting at my boutique by convincing everyone that we are a bunch of idiots who know nothing and are mistake-prone, but happen to be endowed with the rare privilege of knowing it.” – Nassim Nicholas Taleb

Most will be focused on daily action around the 50DMA across the board as most charts are hovering around key inflection points. Sadly, shorter-term, technicals may need to take a bit of a backseat as action will likely continue to be dictated by headline risk.
As previously discussed, in terms of intraday action, we would continue to keep a very close eye on how credit and oil are trading (with and without headlines).
Our current view and thinking is highlighted in the latest Weekly Outlook Video.
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Wishing you a great day ahead.

Weekly Outlook Video

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Wishing you a great day ahead.

Chart of the Day

“The stock market is never obvious. It is designed to fool most of the people, most of the time.” – Jesse Livermore

The low liquidity chop continues to be driven by CB policy and headline risk as we start to settle into the main part of this earning season. As usual, it’s very hard to call this kind of action, all we can do is continue to focus on some of the key dynamics driving the bigger picture view and levels. For the time being, we would continue to focus on intraday action in: financials, crude and the vix. More on this in today’s session…
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Wishing everyone a great weekend ahead.

Chart of the Day

“That men do not learn very much from the lessons of history is the most important of all the lessons that history has to teach.” – Aldous Huxley

As they say; sometimes, a picture is worth a thousand words…
No big change to what we discussed in our > latest Weekly Outlook Video.
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Wishing you a great day ahead.

Chart of the Day

Indecision and procrastination are corrosive habits. Those who wait for every little thing to be perfect before they embark on a project or who dislike the compromise of a partial solution are among the least happy. Ideal circumstances are seldom given to anyone for an undertaking. Instead there is uncertainty in every situation. The wise are those who can wrest great advantage from circumstances opaque to everyone else.” – 365 Tao: Daily Meditations

No big change to what we discussed in our > latest Weekly Outlook Video.
One of the key charts we will be reviewing, discussing and following today is XLF. As we have been discussing for a while now, Financials are a key piece of the puzzle and a lead indicator.
Key inflection points coming up on ITY and JNK too:
Keep an eye on the Twitter Feed today. Will try to post some updated charts there too.
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).
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Wishing you a great day ahead.

Weekly Outlook Video

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).
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Wishing you a great day ahead.

Chart of the Week

We continue to believe that, no matter what kind of intradAy action we may see on a short-term basis, we remain in a distributive market phase and that we still have some unfinished business at December lows.
Remember that on top of the usual headline risk and ongoing Brexit Circus, we will see a pick-up in earnings and a lot of Central Bankers on the wires this week as we approach the G20.
As we will discuss and review today we have chosen Crude for the chart of the week and we would make sure to keep a very close eye on this as well and on USDCNH to get a feel for intraday momo and flows.
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).
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Wishing you a great day ahead.

Chart of the Day

“When nothing seems to help, I go and look at a stonecutter hammering away at his rock, perhaps a hundred times without as much as a crack showing in it. Yet at the hundred and first blow it will split in two, and I know it was not that last blow that did it, but all that had gone before.” – Jacob A. Riis

The aggressive squeeze continues in High Yield and it’s going to be key to see how this resolves for the next structural move across the board. As we have been discussing, our outlook on Junk and the broader markets has not changed in terms of a bigger picture view.
Once again, it’s all about the FED. The turn this has taken is simply > Hawkish FED = Pressure ON / Dovish FED = Pressure OFF. We will discuss this today and how it’s important to both trade the hand we are given but also understand the limitations of this simplistic view and how we think this is likely to resolve. The Quick-Take is: nimble and tactical on intraday opportunities but use the broader action to position swings.
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