“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful” – Warren Buffett
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Chart-Book
“I believe in Karma. If the good is sown, the good is collected. When positive things are made, that returns well.” – Yannick Noah
As we reviewed yesterday, the moves discussed in the latest Weekly Outlook Video are in play.
Short-term, the focus will be to see if the bears can hold the pressure on as we move through triple witching. Clearly, the risk is of a bounce into expiration and how markets move will be very telling. The biggest surprise to most participants will be if indices continue to hold heavy into the close on Friday.
No change to our current outlook > here are a series of links to some of our chart-book: NQ_F, ES_F, YM_F, XLF, USDJPY, JNK, HG, EURJPY, AMZN, BTCUSD and AAPL.
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.
Fragile Recovery
“You are neither right nor wrong because people agree with you.” – Benjamin Graham
As discussed in the latest weekly outlook video we are hovering around key levels across the board. The next ‘healthy move’ seems to be fairly clear on the charts but it’s still struggling to get real traction. Equities looked very fragile yesterday but the ‘magical’ bid in tech stocks saved the day. We suspect that action could have turned very ugly across the board had it not been for the Nasdaq holding.
Here are some of the key charts we’ll be discussing and focusing on today:
