Charts of the Day

“In many ways, large profits are even more insidious than large losses in terms of emotional destabilization. I think it’s important not to be emotionally attached to large profits. I’ve certainly made some of my worst trades after long periods of winning. When you’re on a big winning streak, there’s a temptation to think that you’re doing something special, which will allow you to continue to propel yourself upward. You start to think that you can afford to make shoddy decisions. You can imagine what happens next. As a general rule, losses make you strong and profits make you weak.” – William Eckhardt
No big change from our Latest Weekly Outlook Video. The focus remains on headline risk and what will come out of the G20 this weekend. Nothing else matter short-term…
Here are some of the key charts to keep an eye on:

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Wishing you a great day ahead.

Weekly 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.
Wishing you a great day ahead.

Chart of the Day

“Success is as dangerous as failure. Hope is as hollow as fear.” – Lao Tzu
Our latest post with a collection of Key Charts remains very much in play as we move into the last trading week of the month.
Remember to keep in mind that we have a lot of headline risk this week, not only from scheduled data releases but also from Russia, China, Italy, Brexit, Opec and a host of Central Banks.
Don’t forget to keep and eye on Commodities and Credit for clues…
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.
Wishing you a great day ahead.

Charts of the Day

“Fill your bowl to the brim and it will spill. Keep sharpening your knife and it will blunt. Chase after money and security and your heart will never unclench. Care about people’s approval and you will be their prisoner. Do your work, then step back. The only path to serenity.” – Lao Tzu
If you missed it, you can take a look at our > Latest Weekly Outlook Video.
Here are some of the charts we will be reviewing and discussing today:
  • Crude still under pressure and into KEY support > CL_F Daily
  • Dollar still looking for direction into this sloppy resistance zone > DXY Weekly
  • Germany still not looking pretty. Swing in play and we have now given back 2 years of free money stimulus > DAX Weekly
  • As discussed Tech broke back in July with Netflix and the repricing is in play > NQ_F Daily
  • The Generals did a very good job at paving the way to the upside, so it’s only natural that they do the same to the downside > FANG Daily
  • Still stuck inside the yearly range and no change in outlook; we expect yearly lows to be revisited > SPX Daily
  • As we have been discussing since 2017, Junk is really painting an ugly picture. ignore at your own peril > JNK Weekly
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.
We will be enjoying a 4 day weekend and will be back for the last trading week of the month on Monday.
Wishing you a great day and Thanksgiving break ahead.

Weekly 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.
Wishing you a great day ahead.

Charts of the Day

“Don’t judge each day by the harvest you reap but by the seeds you plant.” – Robert Louis Stevenson
Here are 3 of the key weekly charts that were the focus of our outlook video and key for this shortened holiday trading week. Remember that trading conditions will likely be thin in the coming days with continued headline risk.
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.
Wishing you a great day ahead.

 

 

Chart of the Day

“Read books. Care about things. Get excited. Try not to be too down on yourself. Enjoy the ever present game of knowing.” – Hank Green
Here we go, once again, talking about post-earnings follow-through on a tech name earnings miss and lowered guidance (NVDA). As we have repeatedly said since NFLX broke back in July; we have seen as good as it gets in this cycle and the market will have to reprice. As ludicrous as it may have seemed to newer participants, we discussed the fact that we expected most of these names to give back up to 50% of their price… nothing new if you are a student of markets and price history.
We would like to remind readers that we expect a lot of volatility and continued two-sided action into year-end and well into 2019. We are at key inflection points across the board with a lot of overlapping dynamics in play > equity repricing, rates, usd, cnh, crude, etc… As always, it is important to try and take advantage of the opportunities that the markets are presenting but it is also important to understand the nature of the current context and to adapt to the new environment. One can’t simply trade it as if we were still in the low vol equity grind higher regime. Furthermore, don’t forget that we are likely going to continue to get the usual fake tape-bombs, especially if markets continue to trade heavy… again, these tactics usually end in tears.
If you missed it, you might be interested in watching our Latest Weekly 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.
Wishing you a great day ahead.

Charts of the Day

“And yes, you should lose, and I know I can lose and should lose, it’s just a question of quantity. If you lose more than you should have done, that’s when you get into trouble. It’s a lack of discipline in sticking to what you decided you were going to do that causes difficulties. A lot of traders don’t focus on their targets and fail to block out emotions like hope,  fear and greed.” – David Kyte
Key inflection points across the board as we continue to experience good conditions for traders. Here are some of the Key Charts that we will be focusing on and reviewing today.
If you missed it, you might be interested in watching our Latest Weekly 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.
Wishing you a great day ahead.

 

Early Morning Outlook

“In my experience, I have to say that there was very little critical difference between the net winning traders and the net losing traders in most areas. All of them had good understanding of the basic market fundamentals, used a solid technical analysis or research of some kind, and exercised a lot of personal discipline. The one thing that stood out, the one thing that separated the net winner from the net loser, all things being equal, was that the net winner had a trading plan in addition to his other skills. The net winner knew he was up against not just the market and his competitors, but he was up against himself, too. To guard against the possibility that he (the trader) could blow himself out of the water at any time if he wasn’t careful, that trader had a plan.” – Jason Alan Jankovsky
If you missed it, you might be interested in watching our Latest Weekly Outlook Video.
As we have been discussing on our Twitter Feed, the tape has changed and more and more charts are lining up pointing to more downside across the board. Our base-case scenario hasn’t changed on the equity side > we are still looking for a test of yearly lows. Even if the action has been very choppy, the dynamics have been clear to us all the way from a couple of earnings cycles ago when Netflix first broke. We’ll discuss this in today’s webinar once again, also highlighting the importance of acknowledging a turn in the tape and adjusting to the new flows.
On the commodity side, metals continue to be stuck in the middle of the whole USDCNH debacle and the energy space is being completely dominated by this Crude/NatGas unwind. As always, it’s best not to try and be a hero but it is also important to understand when the traffic light starts to go from Red to Orange and then changes to Green. This will be a key focus of our discussion later on today when we review this in the context of our seasonal trades that are currently in play.
Naturally the DXY remains one of the key pieces of the puzzle and we would suggest to continue to keep an eye on that weekly chart and not get carried away with reading too much into intraday action. The market remains very long USD and despite the fact that we would not be surprised to see more strength, we still continue to believe that it will not be a sustained structural move. We will discuss this more detail in the webinar along with reviewing open swings and other opportunities that are currently setting up.
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.
Wishing you a great day ahead.