Stocks Up, Dollar Down!

I have seen many storms in my life. Most storms have caught me by surprise, so I had to learn very quickly to look further and understand that I am not capable of controlling the weather, to exercise the art of patience and to respect the fury of nature.” – Paulo Coelho
Pretty impressive moves off the lows on equities. As we said, sharp rallies after the kind of down move we saw should not be a surprise but the velocity of the moves back up has been surprising.
Yet another time, we are being reminded that markets are moving to a new rhythm. To be clear, we are not in the ‘this time it’s different camp’ but it’s important to understand the current context in order to adapt and manage around these moves. We’ll talk more about this in session later on today.
No change to what we discussed in our latest weekly outlook video and focus should still be on the Key Drivers we have been discussing in detail. If we had to focus on one chart today, then it would be DXY; we suspect that short term momentum and tradable opportunities rest around the ability for the usd stall a bit. Remember that we are heading into a 3 day weekend.
Reminder if you are interested in the Foundational Webinar Series > New Session.
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.
Wishing you a great day ahead.

Key Drivers

“A market is the combined behavior of thousands of people responding to information, misinformation and whim.” – Kenneth Chang
Here are the 3 key drivers we would be keeping an eye out on today. Remember, you can also check out our latest weekly outlook video.

Reminder if you are interested in the Foundational Webinar Series > New Session.
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.
Wishing you a great day ahead.

Mid-Week Update

“The revolutionary idea that defines the boundary between modern times and the past is the mastery of risk: the notion that the future is more than the whim of the gods and that men and women are not passive before nature. Until human beings discovered a way across that boundary, the future was a mirror of the past or the murky domain of oracles and soothsayers who held a monopoly over knowledge of anticipated events.” – Peter L. Bernstein

 

You can also check out our latest weekly outlook video.
Reminder if you are interested in the Foundational Webinar Series > New Session.
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.
Wishing you a great day ahead.

Weak Hands

“Patience and perseverance have a magical effect before which difficulties disappear and obstacles vanish.” – John Quincy Adams
A lot is going on and we have done our best to put some context around it in our latest weekly outlook video. Focus continues to be on Asian Equities and Bonds… that’s where your tell is likely going to come from. It’s hard to point to just one thing but if we had too, then it wound clearly be the Bonds.
As we move towards London open, the main thing that stands out is that Japan has not popped following their bank holiday and that both USDJPY and USDCHF are trading very heavy.
Today is going to be extremely important for equities as if the bears are going to keep short-term pressure on; then, today is the day.
Reminder if you are interested in the Foundational Webinar Series > New Session.
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.
Wishing you a great day ahead.

Forex & Futures Outlook | 11/02/2018

Reminder if you are interested in the Foundational Webinar Series > New Session.
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.
Wishing you a great day ahead.

Getting Interesting

Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
Quick post today > focus is on how we trade into the end of the day and especially on Monday if markets close heavy. Moves are in play and nothing has changed, so please go back to the posts we put out earlier in the week if you are looking for a bit more clarity on what is playing out.
50Scouts members: please check your inbox for a free pass to today’s webinar session.
Here are 3 key charts to keep an eye out on:

Reminder if you are interested in the Foundational Webinar Series > New Session.
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.
Wishing you a great day ahead.

Super Thursday

“The only way out is through.” – Carl Jung
We are looking forwards to more action into the end of the week. If you are an active 50Scouts member: keep an eye on your inbox for a free pass to Friday’s daily webinar session (make sure to check your spam folder too), we’ll have plenty to discuss and review. 😉
As much as things have stabilized in the US, foreign markets are still struggling. We recently reviewed DAX and FTSE in detail but take a look at some of these other charts…
Make sure you keep on watching the bonds. As we have been warning repeatedly, still no sustained bounce in sight and all the other asset classes will be forced to pay attention and adjust…
In terms of equities, it’s all about recent lows vs the highs we made yesterday. If those highs give, then we would expect another push back towards all time highs (as discussed in our recent morning call). Don’t forget to watch intraday action on Boeing and Amazon for clues. Here is the NQ chart to give you an idea of the dynamics (ES and YM are very similar and we’ll be redrawing and discussing those live today). If you had to focus on one, ES is clearly the most technical and purest for now…
Reminder if you are interested in the Foundational Webinar Series > New Session.
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.
Wishing you a great day ahead.

Mid-Week Update

“To attain knowledge, add things everyday. To attain wisdom, remove things every day.” – Lao Tzu
Reminder if you are interested in the Foundational Webinar Series > New Session.
Note for active 50Scouts members: make sure you keep an eye on your inbox for a free pass to Friday’s daily webinar session (make sure to check your spam folder too). This looks like really good timing for as we’ll have plenty to discuss and review 😉
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.
If you are struggling or looking to speed up your learning curve, you might be interested in our Foundational Webinar Series.
Wishing you a great day ahead.

Reality Bites

“I will not allow yesterday’s success to lull me into today’s complacency, for this is the greatest foundation for failure.” – Og Mandino
Volatility is back and as we have been discussing in our updates and outlook videos, participants should not be surprised by Newton’s Third Law. However, as seasoned traders know, the velocity of moves is greater to the downside… the focus for today has to be on the VIX complex as no one knows what is going to happen to all these instruments and if indeed, some of them will even trade…
Hopefully, we are moving back to a market where managers can distinguish themselves by using their experience/skills to allocated to real opportunities rather than blindly buying anything under the sun. Remember that the markets are still firmly is bull territory but volatility is giving us the opportunity to ‘make hay when the sun is shining’.
Apart from the VIX complex, another key focal point will be Crude; they last thing the bulls want to see is a break and hold below that key weekly bull/bear line in the mid 62s… we can’t stress enough how important this level is, not only for Crude but for the overall risk sentiment in current market conditions.
Reminder if you are interested in the Foundational Webinar Series > New Session.
Note for active 50Scouts members: make sure you keep an eye on your inbox for a free pass to Friday’s daily webinar session (make sure to check your spam folder too). This looks like really good timing for as we’ll have plenty to discuss and review 😉
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.
If you are struggling or looking to speed up your learning curve, you might be interested in our Foundational Webinar Series.
Wishing you a great day ahead.