es

Into Tech, FOMC and NFP Week

| 50Pips

“The open doors of opportunity are all around you, but they won’t do you much good unless you learn to see them and recognize when to walk through them. “ – Jim Rohn

Key week shaping up as we: we start to get into the main part of this earnings cycle, await this next FOMC meeting and welcome the end of the government shutdown and the return of data releases.
We have gone into a lot more detail in the Weekly Outlook Video but suffice to say that, these next two weeks are going to be extremely important for the markets. In short, for the bears to get the most traction, we believe that they have to make a move here as if the can’t come back in full force before the end of the Buyback Blackout Period, then, shorter-term, the bulls will have an ideal chance to take a proper stab to press back into the 2800s.
Another key dynamic we have been discussing ad focusing on is the DXY. We would strongly recommend that you continue to keep a close eye on intraday action in USDCNH, especially if you are active in the metals markets.
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

| 50Pips
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

| 50Pips

“That men do not learn very much from the lessons of history is the most important of all the lessons that history has to teach.” – Aldous Huxley

As they say; sometimes, a picture is worth a thousand words…
No big change to what we discussed in our > latest Weekly Outlook Video.
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 Update

| 50Pips

“The greatest fear in the world is of the opinions of others. And the moment you are unafraid of the crowd you are no longer a sheep, you become a lion. A great roar arises in your heart, the roar of freedom.” – Osho

Today we will be reviewing 3 key charts we have been focusing on this week:
ES > all about the 2600 mark from a day and week close basis now as we wait for Powell to speak today. Don’t forget the Buyback Blackout Period and q4 Earning…
USDCNH > trade for the move back to the opposite side of the range is done and now it becomes very interesting. Remember that this is going to be key for a lot action across the board.
DXY > Moving along nicely for now. Focus will be on how we trade through Powell and how we settle this week but no change in outlook. Our Euro and Yen swings remain in 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.

Chart of the Day

| 50Pips

“The best way is to understand yourself, and then you will understand everything. So when you try hard to make your own way, you will help others, and you will be helped by others. Before you make your own way you cannot help anyone, and no one can help you.” – Shunryu Suzuki

Key test for the ES today as we hover just below the 2600 mark. As discussed in our latest Weekly Outlook Video, this is a pivot bull/bear line and the day close will be very interesting. Bulls are clearly in control but remember that healthy markets don’t move in straight lines and that recent action is not really constructive for structural bulls. We will discuss and review this again in today’s webinar along with updating our roadmap from here on. Don’t forget to keep an eye on our Chart of the Week.
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.

Waiting for Powell

| 50Pips

“It’s not how much you have learned, but how much you have absorbed from what you have learned. It is not how much fixed knowledge you can accumulate, but what you can apply livingly that count.” – Bruce Lee

First NFP release of 2019 but attention will be squarely on Charmian Powell. Will he save the markets? Is he going to stick to his guns? We’ll have to wait and see but the most important chart will be the DXY as the main focus will be on how he tackles recent suspicions that the FED will have to walk back the hiking cycle and possibly even have to start considering cuts…
We will be reviewing our recent and open FX swings and going through positioning in the DXY in today’s webinar session. Remember, as we have been discussing on various platforms, a lot of ‘air’ has been and is being let out of fixed income, commodities and stocks… we are looking at the FX markets as being the next in line…
No change in terms of our bigger picture view on indices. We will be reviewing our roadmap today along with the KEY implications of DXY moves and levels post Powell.
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.

Major Markets Weekly

| 50Pips

“Success seems to be connected to action. Successful people keep moving. They make mistakes, but they don’t quit.” – Conrad Hilton

Here are the weekly charts for the 5 major markets as we start this new year.
Please remember that this week should still be treated as a lower liquidity holiday week. Furthermore, due to the current US government shutdown, it is still unclear if the scheduled economic data releases will go ahead as planned.
Essentially, we are right back where we left off at the end of 2018: a lot of complacency, uncertainty and plenty of headline risk.
Wishing everyone a great 2019! Remember to be realistic with your expectations, trade responsibly and focus on the bigger picture; this is a marathon, not a sprint.
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.

Early Morning Update

| 50Pips

“Strength does not come from winning. Your struggles develop your strengths. When you go through hardships and decide not to surrender, that is strength.” – Arnold Schwarzenegger

As we discussed, there was absolutely no sign of fear in the markets and expected recent lows to be taken out and we are still focused on unfinished business at yearly lows. Once again, the pivotal bull/bear lines proved to be extremely useful in assisting us and we will continue to focus on them. Naturally we would never play for any market to move in a straight line and even if we get a flush and tradeable bounce, those levels will remain our key strategic guides. Primary downside targets are still 4-6% away on most of the indices for these current moves.
We also continue to expect both Nikkei and USDJPY to catch up to recent moves and expect to see plenty of two-way trading opportunity inside these ranges on the way to the bottom-end supports.
The other key chart going into this week, ECB and the upcoming FOMC meeting will be the DXY. We would be very cautious about trying to be aggressive trying to fade ans sustained move and continue to focus on EURUSD. Don’t forget to properly understand Euro weight in this and remember that in an aggressive risk-off environment, especially in the context of China frictions, AUssie and Kiwi will struggle. No change in our base-case outlook.
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 all a great day and week ahead.

Into NFP

| 50Pips
markets managed another miraculous squeeze following yet another host of old headlines but still closed below the key pivotal bull/bear lines. We remain very suspicious of this action and are not seeing this as another key low that will trigger the famous santa rally for a move back into all time highs.
Naturally, especially into NFP, we still see a possible attempt to squeeze these back into proper gap fills but the real focus will be on how we close the day/week and not on intraday shenanigans. Both complacency and headline risks remains very high and we would not be fans on risk-on o/n holds.
The main key chart for NFp will be the dxy. We are still hovering around the 97 mark and unless we see a proper close above 98 of below 96 we will likely continue to see very choppy trading. As already discussed, this is the key piece of the puzzle and we will review our outlook and implications in today’s webinar session.
Remember that even if the usual suspects have been talking about capitulation and reversal, we have see zero panic in the markets. From current levels, unless you see the VIX trading above 30 but really, into the 35s and 40s, this is still pretty much a ‘nothing burger’.
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.