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Chart of the Day

| 50Pips

“Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, one by one.” – Charles MacKay

As usual, we will be opening up free access to out latest Weekly Outlook Video tomorrow but in the meantime, don’t forget to keep an eye on Boeing; one of the Poster Children of the seemingly endless ramp. Caveat Emptor…
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.

Monday Morning Update

| 50Pips

“The price pattern reminds you that every movement of importance is but a repetition of similar price movements, that just as soon as you can familiarize yourself with the actions of the past, you will be able to anticipate and act correctly and profitably upon forthcoming movements.” – Jesse Livermore

Here are 3 key charts to keep an eye on into the new week. Non-Subscribers will get more detail on these when we unlock access to the Weekly Outlook Video tomorrow.
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 week ahead.

Buying Time

| 50Pips
RESOLVE: Banish uncertainty. Affirm strength. Hold resolve. Expect death.
Make your stand today. On this spot. On this day. Make your actions count; do not falter in your determination to fulfill your destiny. Don’t follow the destiny outlined in some mystical book: Create your own.
Your resolve to tread the path of life is your best asset. Without it, you die. Death is unavoidable, but let it not be from loss of will but because your time is over. As long as you can keep going, use your imagination to cope with the travails of life. Overcome your obstacles and realize what you envision.
You will know unexpected happiness. You will know the sorrow of seeing what is dearest to you cut down before your eyes. Accept that. That is the nature of human existence, and you have no time to buffer this fact with fairy tales and illogical explanations.
Each day, your life grows shorter by twenty-four hours. The time to make achievements becomes more precious. You must fulfill everything you want in life and then release your will upon the moment of death. Your life is a creation that dies when you die. Release it, give up your individuality, and in so doing, finally merge completely with Tao.
Until that moment, create the poetry of your life with toughness and
determination.
365 Tao: Daily Meditations
Deng Ming-Dao
No big change to what we have been discussing. The main issue remains that broadly speaking, we are stuck and waiting for a catalyst. The SPX chart is probably the best one to look at to highlight this:
As you can see, DXY is also stuck, as discussed in out latest weekly outlook video.
Our most interesting swing chart (Crude), is finally getting some traction and it may actually hold the key to other asset classes finally starting to get some traction too:
If you had to only look at one level today, then it would have to be the 7000 mark on Nasdaq:
Always worth keeping an eye on:
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).
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.