“The main focus in my life now is to open people’s minds so no one will be so conceited that they think they have the total truth. They should be eager to learn, to listen, to research and not to confine, to hurt, to kill, those who disagree with them.” – Sir John Templeton
If you missed it, you can listen to our DXY review in our latest Outlook Video.
Markets are not looking too perky as tech continues to trade with a heavy tone. As already discussed in detail, unless we see some sustained weakness in Amazon and Apple, it will be hard to see a proper correction but we still maintain that these low liquidity ramps higher are bound to end badly, in a way that will make the VIX-debacle we saw at the start of the year look pretty tame and orderly. Remember that a lot of market commentators and participants today have ‘no concept of’ and ‘have never witnessed’ a ‘no-bid’ scenario.
Focus still remains on a lot of possible headline risk: Tariffs, NAFTA, Washington, Middle East, etc. However, as we have repeatedly said > the charts and levels hold the missing piece of the puzzle. Anything else has the potential to accelerate the ‘velocity’ of moves but the charts don’t lie and over a big enough sample, there is no reason to make things harder than they should be by not focusing on what price is telling you.
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).
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.