“You should sit in meditation for twenty minutes a day, unless you are too busy. Then you should sit for an hour.” – Zen Proverb
Here is a selection of key charts that we will be discussing and focusing on today:
’18 Thought of the Day
Into FOMC
“Those who cannot change their minds cannot change anything” -George Bernard Shaw
Going into FOMC and the end of the week, focus is going to be on if markets can hold the bounce and close the week strong.
Recent moves have been pretty impressive, especially if you look at them in the context of the price action we saw in October. We have essentially gone back to the usual low volume ramps fueled by the usual suspects in the FAANG+ club. However, this still does not change the fact that, under the surface, fundamentals, data and guidance continues to deteriorate.
As already discussed, as far as the bulls are concerned, October lows mark the bottom of the recent correction and the start of the end of year Christmas rally and as far as the bears are concerned, the velocity and context of the corrections we saw in February and October points to the fact that something is broken under the hood at that we are in the process of starting a much bigger correction.
We will review recent moves and our outlook going forwards in the webinar today and will focus on manage current swing trades in aussie, kiwi and euro in the video update.
In case you missed it, you can always go through 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.
Focus on Pivotal Levels
“If you would hit the mark, you must aim a little above it; every arrow that flies feels the attraction of earth.” – Henry Wadsworth Longfellow
Busy week ahead with US Mid-Terms Election, RBA, RBNZ and FOMC. As headline risk remains very high, the focus will be on how we close the week with respect to those 200DMAs and the 50Back retracements of the recent moves from the all time highs. Remember to keep an eye on USDCNH, and the weekly chop zones on DXY and therefore the Euro.
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
“Beware those who seek constant crowds for they are nothing alone.” – Charles Bukowski
Busy day as we will have to deal with o/n China Deal news, AAPL post earnings shenanigans and NFP.
Not much has changed to what we have been discussing this week. If interested, just scroll back through recent posts and charts.
Here are some of the key dynamics to focus on today:
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.
Focus on AAPL
“Kites rise highest against the wind, not with it.” – Winston Churchill
In case you missed it, here is our latest > Weekly Outlook Video.
As expected we got our month-end ramp up so no big surprise. What is interesting, is how markets stalled into the close and at key inflection points. Remember that it’s all about AAPL earnings now… as everyone is looking for the usual ramp and up and away, Bulls better hope that there are no surprises or soft number/guidance as that could really ruin the party into Mid-Terms. We will review and discuss this in detail again today.
They other key dynamic to keep an eye on is the DXY. As discussed, eyes on the weekly close and how we trade into Monday. After yesterday’s deep dive into this we will continue to discuss recent action and dedicate the new video update to current levels, implications, what we expect and the various scenarios moving ahead. Remember that if you are not paying attention to CNH, as we have been repeatedly discussing, then you are likely making it harder than it should be and not really paying attention.
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).
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.
Focus Remains on Tech
“Poker reveals to the frank observer something else of import—it will teach him about his own nature. Many bad players do not improve because the cannot bear self-knowledge” – David Mamet
In case you missed it, you can go through our > Weekly Outlook Video.
As we move into November, these are some of the points we will be focusing on in today’s webinar and video update:
1. How is FB going to settle today post earnings.
2. Are month-end flows going to come out swinging to defend the marks.
3. Can the month-end USD bid continue into November or is it just settling up swing opportunities.
4. How will AAPL trade post earnings, can it really stall the overall selling pressure or will it trigger an even larger correction.
5. Continue to keep an eye on intraday action in USDCNH for clues and tactical opportunities.
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).
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
“I believe the very best money is made at the market turns. Everyone says you get killed trying to pick tops and bottoms and you make all your money by playing the trend in the middle. Well for twelve years I have been missing the meat in the middle but I have made a lot of money at tops and bottoms.” – Paul Tudor Jones
We will post a host of undated charts and screens on the Twitter feed today but on top of what we said in our our latest Weekly Outlook Video, the only new development that matters is how AMZN and GOOGL open and close post yesterday’s earning release:
If you missed the latest interview that we published, you can access it > here.
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
“Every man who knows how to read has it in his power to magnify himself, to multiply the ways in which he exists, to make his life full, significant and interesting.” – Aldous Huxley
If you are not paying attention to CNH, then you are probably not paying attention. Intraday action has been extremely interesting and has been offering an incredible opportunity to see how flows are being influenced by the fight that is taking place at highs. Today we will discuss this in detail and review why this is a key piece of the puzzle to spark the next moves in the fx and metals space.
In terms of equities, remember to keep an eye on the ‘flip the switch’ pivotal levels, so far so good with respect to our outlook. We will review and discuss management of the downside rotations, along with the respecting evolving targets for the bigger moves.
Also don’t forget to keep in mind that AAPL is still doing the heavy lifting and that all in all, it still hasn’t move much…
Don’t forget to keep an eye on Japan.
Check out 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
“The victory of success is half won when one gains the habit of setting goals and achieving them. Even the most tedious chore will become endurable as you parade through each day convinced that every task, no matter how menial or boring, brings you closer to fulfilling your dreams.” – Og Mandino
Another key day in the markets as the cavalry came in and saved the day right at those key marks on ES/YM/NQ. Once again, we cannot stress how important those levels are from a day and week closing basis. We have been discussing and detailing this for some time but even if you haven’t been in the sessions, the price action should be self explanatory.
If you missed if, check out our latest Weekly Outlook Video. In response to a few questions that came in and to make sure the release schedule is clear, please note that, for the time being, the outlook video is available to 50 on Markets subscribers into the Sunday open and then posted on the blog after the Monday US open.
We have attached 3 of the most important screens we are focused on at the moment. Finally markets are moving again and giving us plenty of opportunity. Remember to focus on the bigger picture, especially now that traditional correlations are starting to come back into play.
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.
