“If you look around, complacency is the great disease of your autumn years, and I work hard to prevent that.” – Nick Cave
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Post FOMC Chart Update
“I find it fascinating that most people plan their vacations with better care than they do their lives. Perhaps that is because escape is easier than change. “ – Jim Rohn
Here are some of the charts we will be discussing and reviewing today in the webinar session. Will also try to update some extra ones on the Twitter Feed.
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.
Major Markets Weekly
“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
“What we can or cannot do, what we consider possible or impossible is rarely a function of our true capability. It is more likely a function of our beliefs about who we are.” – Anthony Robbins
Most gaps from the Sunday euphoria are done. As discussed in yesterday’s webinar, you have to be suspicious when every talking head, pundit and punter is absolutely certain of any given outcome. As a general rule, we have and will continue to fade these situations.
Our main focus remains on price and on how markets react are specific levels. Remember that this week will likely prove to be pivotal in setting the tone for action into year end.
Here are some of the charts we will be updating and discussing today (charts can be loaded by clicking on the bullet title):
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Nikkei and USDJPY breakdown, range and inflection point.
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Bigger picture Bull/Bear lines in ES/NQ/YM/RTY.
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GOLD $ DXY.
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EURUSD 1.13 rotation + seasonal pattern.
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ZB cyclical support inside chop zone.
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SPX still in range.
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NDX key inflection point.
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Crude, the 200WMA and waiting for OPEC.
If you missed our latest update heading into this weekend and our discussion focusing on the possible repercussions on equities and the dxy, you can watch the recording > HERE.
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
Charts of the Day
“The victory of success is half won when one gains the habit of setting goals and achieving them. Even the most tedious chore will become endurable as you parade through each day convinced that every task, no matter how menial or boring, brings you closer to fulfilling your dreams.” – Og Mandino
Another key day in the markets as the cavalry came in and saved the day right at those key marks on ES/YM/NQ. Once again, we cannot stress how important those levels are from a day and week closing basis. We have been discussing and detailing this for some time but even if you haven’t been in the sessions, the price action should be self explanatory.
If you missed if, check out our latest Weekly Outlook Video. In response to a few questions that came in and to make sure the release schedule is clear, please note that, for the time being, the outlook video is available to 50 on Markets subscribers into the Sunday open and then posted on the blog after the Monday US open.
We have attached 3 of the most important screens we are focused on at the moment. Finally markets are moving again and giving us plenty of opportunity. Remember to focus on the bigger picture, especially now that traditional correlations are starting to come back into 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.
Wishing you a great day ahead.
Chart of the Day
“Let me give you a tip – moping around like a sad puppy dog isn’t going to help you. Change your attitude. Attitude is the one thing you have total control over and the minute you let doubt, depression or martyrdom creep in, you set yourself up for a long life of mediocrity.” – Jim Wendler
Tariffs, tariffs and more tariffs. You can run but you can’t hide… As long as Asia stays heavy, there is a real risk of downside acceleration across the board.
Today we will go into even more detail not only on the Gold technical picture but also on the seasonality and current swing that is in play.
Don’t forget to keep an eye on USDJPY. Intraday action in this pair is hands-down the most interesting/important dynamic that has been playing out in the markets and (naturally) with Gold, a key piece of the puzzle…
If you missed the latest video post you can access them here:
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.
Chart of the Day
“My strategy works well because it’s my strategy. I know the strengths and, more importantly, the weaknesses of what it is I do. It also works well because I allow it to work and stick with it even when it runs into difficult times. Nothing works well if you keep changing your approach. To be a master you must be a specialist, not a jack of all trades.” – Mark Minervini
Just a reminder that there will be minimal activity here on the Blog and on Twitter until Thursday.
If you missed the latest video post you can access them here:
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.
Chart of the Day
“You can cut all the flowers but you cannot keep Spring from coming.” – Pablo Neruda
Heads.up for end of the week-month-quarter-half year shenanigans. Don’t be surprised if you see some funky action. Furthermore, it will be interesting to see how QT effects the markets on Monday, if recent action is anything to guide us, then one would expect to see a heavy trading day.
Our main focus for today will be on action in Gold both from an intraday and cyclical perspective…
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.
Chart of the Day
“I have noticed that everyone who has ever told me that the markets are efficient is poor.” – Larry Hite
