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
Markets continue to trade with a heavy tone as we wait to see month/quarter end flows. There is not much to add to what we have been discussing, we’ll just have to be patient and update our outlook after the close this week. We will continue to highlight key charts that we are focusing on through the Twitter feed today. For now, make sure you keep an eye on GOLD.
If you missed out latest update, you can get up to speed with our Latest Weekly 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.
Wishing you a great day ahead.

Chart of the Day

“I’m not hunting a jaguar that’s sitting in the tree because there are not a lot of easy ways to rustle it out of the tree. A lot of bad things can happen: The jaguar can attack me and I can fall down and get hurt. But if someone shoots the Jaguar out of the tree and the thing hits the ground and is injured I will go after it.” – Marc Cohodes
Today we’ll be focusing on discussing and updating our outlook/swings on one of the most important relationships we should be keeping an eye out on: GC and Yen.
As discussed on twitter, in terms of broader context, remember what we have on the calendar next week on top of the usual data release > UK parliament Brexit vote, Trump meeting with Kim (not Kanye’s wife), FOMC, ECB, BOJ…
If you missed our latest video update, you can see it here > Weekly Outlook.
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.

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.