Focus on DXY

LLOYD: “I’ll bet you 20 bucks I can get you gambling before the end of the day!?”
HARRY: “No way.”
LLOYD: “I’ll give you 3 to 1 odds?”
HARRY: “Nope.”
LLOYD: “5 to 1?”
HARRY: “Nope.”
LLOYD: “10 to 1?”
HARRY: “You’re on.”
 – Dumb and Dumber
No change to the latest weekly outlook video. Today we’ll focus on 3 key charts and how their relationship is key for future cyclical moves.
1. The bulls are in control on the equity side as the squeeze continues > key test here on the ES at the 2700 pivotal level in this broader chop zone:

2. DXY is still in a grind higher mode, clipping upside stops but starting to stall:

3. Gold has been trying to flush weak longs but keeps on showing signs of trying to base and coil:

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.

Event-Risk

“If one does not know to which port one is sailing, no wind is favorable.” – Seneca
Once again, as discussed in our latest Weekly Outlook Video; we are still seeing a lot of ‘velocity of move’ inside recent ranges. Our base case has not changed and recent action in GC/JPY/CHF may indeed be the tell on what is coming.
Here are some key charts we will be 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.
Wishing you a great day ahead.

Mid-Week Update

“Before enlightenment: Chop wood, carry water. After enlightenment: Chop wood, carry water.” – Zen Proverb
Not a lot to add to our latest weekly outlook video and morning call.
In terms of equities, we’ll have to see if we price this tax plan back into the market yet another time or if we continue to see some profit taking. As far as the levels are concerned, it’s all about the weekly range we have put in so far; bullish above / bearish below.
Here are some of the other key charts we will be focused on and 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.

Into ECB

“Do not permit the events of your daily life to bind you, but never withdraw yourself from them.” – Zen Proverb
Nice action no gold yesterday, as discussed in our Into FOMC post, this is the time of the year swingers will be out in full force. The 1250 mark remains pivotal to hold the 1250/1300/1350 range and all eyes will be on the weekly close now.
Another constructive day for Crude shorts as the 55 mark continues to attract in the post OPEC buy the rumor sell the news move.
Speaking of buy the rumor sell the news, DXY still looking for direction at the 200WMA:
Remember to not let the market lull you into complacency; vol will be back when you least expect it.
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.

Into FOMC

“If you understand, things are just as they are; if you do not understand, things are just as they are.” – Zen Proverb
It could end up being an interesting day as markets digest election results out of Alabama and the upcoming FOMC press conference. It still looks like the price action is very fragile and volumes continue to be anemic. It is what it is but it doesn’t make it any less frustrating… it does continue to look like it’s going to boil down to headline risk.
Watch action around the 152 mark on ZBs as Yellen takes the stage for the final time:

It’s that time of the year again… as we go into FOMC, you may want to keep in mind gold action these past years around these December meetings and January seasonality. As usual, we will be discussing this in detail, along with how swingers are going to be looking to structure positions in today’s session.

Don’t forget to keep an eye on the Crude and DXY weekly charts:

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.

Charts in Focus

“Things are as they are. Looking out into the universe at night, we make no comparisons between right and wrong stars, nor between well and badly arranged constellations.” – Alan Watts
As discussed in our latest weekly outlook video, the theme of the week is patience until we get into the Wednesday/Thursday Central Bank window. Here are some of the charts we are focusing on:
  • How long can the self-reinforcing virtuous VIX selling continue…
  • 1250 mark remains pivotal for momo & flows + potential range shift on GC
  • DXY waiting for the Fed. Remember, what matters is how market reacts to the decision…
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.

Supporting Charts

“What seems too high and risky to the majority generally goes higher and what seems low and cheap generally goes lower.” – William J. O’Neil
Here are some of the charts we discussed in our latest outlook video.
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.

Chart Overview

“In my experience, I have to say that there was very little critical difference between the net winning traders and the net losing traders in most areas. All of them had good understanding of the basic market fundamentals, used a solid technical analysis or research of some kind, and exercised a lot of personal discipline. The one thing that stood out, the one thing that separated the net winner from the net loser, all things being equal, was that the net winner had a trading plan in addition to his other skills. The net winner knew he was up against not just the market and his competitors, but he was up against himself, too. To guard against the possibility that he (the trader) could blow himself out of the water at any time if he wasn’t careful, that trader had a plan.” – Jason Alan Jankovsky
If you missed it, don’t forget to take a look at our latest weekly outlook video.
He are some of the charts we are going to be reviewing 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.

Still Waiting

“You can fool all the people some of the time, and some of the people all the time, but you cannot fool all the people all the time.” – Abraham Lincoln
No change in outlook as the market continues to pick up pennies in front of a steamroller into earnings. Here are updated charts on some of the key moves we have been discussing:
In case you missed it, here is our Latest Outlook Video for the week ahead.
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.