Calm Before Storm

“If you calmly observe, you will more clearly see situations for what they really are.” – Brahma Kumaris
As equities continue to press higher and as we go into NFP ahead of the now usual weekend risk (North Korean, Catalonia, Iran, etc…) President Trump made some elusive comments on about the fact that “Maybe it’s the calm before the storm”. Hmmmm, Interesting… as we said before, unless we something ‘happen or change’, there is very little on the calendar in term of potential catalyst until the next ECB meeting on October 26th.
Here are some of the charts we will be discussing and focusing on 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.

FX Chart Book Overview

“When nothing seems to help, I go and look at a stonecutter hammering away at his rock, perhaps a hundred times without as much as a crack showing in it. Yet at the hundred and first blow it will split in two, and I know it was not that last blow that did it, but all that had gone before.” – Jacob A. Riis
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.

Still Waiting for Jackson Hole

“The gap between what you say and what you do, between what you promise and what you deliver, is like a drain in the road. The drain is where water escapes, just as your power will seep away if there is a difference between your words and your actions. Ask yourself everyday, were your thoughts, words and actions aligned? Ask someone else what they saw in you too. Feedback is the food of all positive change.” – bkwsu.org
As we discussed in our latest weekly outlook video, we’ll just have to be patient as we wait for Draghi and Yellen out of Jackson Hole on Friday. We’ll be paying attention to see if Yellen can muster up some courage and show a hawkish side instead of reverting back to her dovish nature and if Draghi will act on the continuing improving picture in europe and disappoint the status quo.
Here are some overview screens for equities, GBP and risk on/off monitor:
As always, there is no substitute for real-time/live action; if you are interested in attending a daily video morning call into N.Y. with a more detailed live discussion on all the charts and ideas we highlight/review in the weekly outlook and here on the blog, you should check out our Daily Webinar Group.

Follow Through

“What seems like a crazy idea today eventually grows. It’s a ‘with hindsight’ thing. One day, someone will turn around and say;That was genius.” – Natalie Massenet
No change to what we discussed in our latest weekly outlook video. It’s all about follow through now that we have pulled back from these recent highs.
Our main focus remains on CL (unresolved business in the low 40s), GBP (still structurally short across the board) and NQ (something important happened last Friday and we expect more downside).
Here are some of the charts we will be reviewing/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.

Game Time

“You should never be in a position where the outcome of one single trade could change your life; neither for the good, nor for the bad. Once you really internalize this – and it’s a lot harder to do than it may seem on the surface of things – then you are ready to start working on consistency and longevity in a professional manner.”
As we discussed in the Weekly Outlook Video, the main focus this week was getting to this ‘mega’ Thursday. naturally, with these kinds of events, there is always the risk of the day ending up to be a disappointment in terms of actual moves but it does look like we should get some action.
Just as a reminder: UK Elections, ECB Rate/Presser and Comey testifies. Here are some of the charts and levels we’ll be focusing on.
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.

Exuberance

“If a fisherman does not have a properly repaired net, then his trip is useless. Preparation is the major part of his endeavor. Only when the fisherman keeps his nets intact, keeps his boat repaired, and studies the conditions of fish and water does going out to fish become a mere formality. Then fish fall into his hands as if guided by invisible lines.” – 365 Tao: Daily Meditations
If you haven’t checked them out, you can take a look at the videos we uploaded this week: Morning Call & Weekly Outlook.
So, Dan Bilzerian got long Bitcoin (if you don’t know who he is, just google his Instagram) and Gartman (everyone knows Dennis) turns bullish on tech? Talk about the scent of exuberance starting to fill the room…
We’ve got a lot to discuss today in our live session but the main focus/follow-up will be on: reality bites GBP, the Bitcoin Romance, the magical ‘1000’ number, VIX and how DXY will likely try to confuse less experienced correlation fans (not only on a cross-asset basis but especially inside the fx space).
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.