Charts of the Day

“Fill your bowl to the brim and it will spill. Keep sharpening your knife and it will blunt. Chase after money and security and your heart will never unclench. Care about people’s approval and you will be their prisoner. Do your work, then step back. The only path to serenity.” – Lao Tzu
If you missed it, you can take a look at our > Latest Weekly Outlook Video.
Here are some of the charts we will be reviewing and discussing today:
  • Crude still under pressure and into KEY support > CL_F Daily
  • Dollar still looking for direction into this sloppy resistance zone > DXY Weekly
  • Germany still not looking pretty. Swing in play and we have now given back 2 years of free money stimulus > DAX Weekly
  • As discussed Tech broke back in July with Netflix and the repricing is in play > NQ_F Daily
  • The Generals did a very good job at paving the way to the upside, so it’s only natural that they do the same to the downside > FANG Daily
  • Still stuck inside the yearly range and no change in outlook; we expect yearly lows to be revisited > SPX Daily
  • As we have been discussing since 2017, Junk is really painting an ugly picture. ignore at your own peril > JNK Weekly
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.
We will be enjoying a 4 day weekend and will be back for the last trading week of the month on Monday.
Wishing you a great day and Thanksgiving break ahead.

Follow FANG

“If you want to know what a man is really like, take notice of how he acts when he loses money.” – Simone Weil
Not a lot has changed as we move into the new week of trade. The key themes remain:
– Have equities bottomed and has the year-end rally started or are we in the early stages of a more pronounced bear market?
– Have we seen enough pain in the Oil market and is the unwind over?
– Is King Dollar back and is the strong dollar going to ‘break the world’?
We’ve tackled all these topics and more in the recent Outlook Video and will continue to focus on them this week in the charts we post here on the blog.
Don’t forget to continue to keep and eye on action in USDCNH, the EURUSD affair with the 1.13 mark and GOLD around the 1200.
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.

 

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.

Some Key Charts

“Soros is the best loss taker I’ve ever seen. He doesn’t care whether he wins or loses on a trade. If a trade doesn’t work, he’s confident enough about his ability to win on other trades. There are a lot of shoes on the shelf; wear only the ones that fit. If you’re extremely confident, taking a loss doesn’t bother you.” – Stanley Druckenmiller
As we have been discussing, we are at key inflection points across the board and it looks like Chairman Powell has just added some fuel to the fire. There are far too many moving parts to discuss in a blog post today, if you were thinking about it, this is an ideal time to look into some of our premium content. We’ll leave you with a selection of key charts we are focused on.
Wishing you a great day ahead.
CRUDE > https://www.tradingview.com/x/5fNsVogI/
Nikkei > https://www.tradingview.com/x/2GjROEz5/
ZB > https://www.tradingview.com/x/IBO1EpUz/
NQ > https://www.tradingview.com/x/MGL4fAGY/
FANG > https://www.tradingview.com/x/7HPVO8xD/
SILVER > https://www.tradingview.com/x/ubjkfADZ/
RTY (leading) > https://www.tradingview.com/x/cLNIjIXp/
NQ & FANG (AAPL trying to hold) > https://www.tradingview.com/x/kg9vMu3F/
DXY > https://www.tradingview.com/x/6sCH5QJ5/
NIKKEI & USDJPY > https://www.tradingview.com/x/BvZbMp1A/

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

“Faith consists in believing when it is beyond the power of reason to believe.” – Voltaire
As discussed, it’s hard to understand why anyone would want to be aggressively long risk in this kind of environment. Escalating trade tensions, event risk in the Middle East, difficult situation with Russia, more turmoil from Washington, weaker back-end September seasonals, buyback blackout period… just to name a few things. Markets remain extremely complacent.
ICYMI, you can check out our latest Weekly Outlook Video.
All about the Chinese response to the latest round of tariffs and overall follow-through today. Let’s see what we get.
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.

Some Charts for the Week

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 week ahead.