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.

 

Key Inflection Point

“I learned long ago, never to wrestle with a pig. You get dirty, and besides, the pig likes it.” – George Bernard Shaw
After focusing on drilling down on individual sector performance, today’s video and webinar will be focused on the tech space. There are a lot of interesting dynamics trying to play out this week as we head into NFP.
ICYMI, please 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.

Chart of the Day

“Nothing defines humans better than their willingness to do irrational things in the pursuit of phenomenally unlikely payoffs. This is the principle behind lotteries, dating, and religion.” – Scott Adams
No real change to what we discussed in our latest Weekly Outlook Video. We still have to see what we get out of the BOE and ECB as Global markets continue to trade with a heavy tone.
The easiest way to get a feel for where we stand is just to plot the daily charts of pretty much any market around the world and you will see that they are trading heavy below the 50/100/200 DMAs while US indices are still sitting close to ATH. As you can see in the chart of the day, the ‘two generals’ are still working hard to prop the US up.
Something has to give and we suspect that it will probably end up being down to some kind of headline but one thing is certain, this divergence between the US and the rest of the world will not continue ad infinitum.
If you are interested in a more structured way of tackling the business of trade, 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

“Have you ever had that moment when you looked back on something and said, ‘Well, gosh, that seems obvious now… why didn’t I see it then?’ I like to call this the Face Palm Epiphany. Oh, hindsight, you magical, humbling thing.” – Alethea Konti
A lot of moving parts today as we head into this GDP print and the end of the week.
Here are the key charts we will be reviewing and discussing today:
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.

Eyes on Tech

“Many can talk the talk but few can translate this into a decent track-record… the basics are, pretty basic but practice is more tricky. If this rings true for you, you might want to focus more on understanding bet size and how that effects the translation of your edge. Obsessing about entry and triggers, all things being equal, is probably the least important aspect yet very few ever get this. Remember that if you get your bet size wrong, you could end up with a negative p&l even with a guaranteed mathematical edge.”Trading Reflections
Once again, at the risk of sounding like a broken record > eyes on tech. If the big names can’t hold up, then there is very little left to prop up this market that continues to trade heavy with a very different tape than to what we have been witnessing in recent years.
On the DXY side, as we have been highlighting and discussing, the most interesting tactical opportunity seems to be on the aussie for now. After having gone in-depth on the DXY move and what it means for the broader market, in today’s session we will turn our focus focus on yen, swissy and gold.
Regardless of how this plays out, we can’t complain, this continues to be a great market for traders across all asset classes.
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.

Chart-Book

“I believe in Karma. If the good is sown, the good is collected. When positive things are made, that returns well.” – Yannick Noah
As we reviewed yesterday, the moves discussed in the latest Weekly Outlook Video are in play.
Short-term, the focus will be to see if the bears can hold the pressure on as we move through triple witching. Clearly, the risk is of a bounce into expiration and how markets move will be very telling. The biggest surprise to most participants will be if indices continue to hold heavy into the close on Friday.
No change to our current outlook > here are a series of links to some of our chart-book: NQ_F, ES_F, YM_F, XLF, USDJPY, JNK, HG, EURJPY, AMZN, BTCUSD and AAPL.
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.

All About Tech

“In my experience the greatest of artists and competitors are masters of navigating their own psychologies, playing on their strengths, controlling the tone of battle so that it fits with their personalities.” – Josh Waitzkin
As we have been discussing for quite some time, it’s all about the tech names and since Amazon has now accounted for almost 30% of the S&P gain this year (close to 50% if you factor in Microsoft and Netflix too), it only seems fitting that we end the week with a look at some of the tech charts:
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.