jnk

Chart of the Day

| 50Pips

Indecision and procrastination are corrosive habits. Those who wait for every little thing to be perfect before they embark on a project or who dislike the compromise of a partial solution are among the least happy. Ideal circumstances are seldom given to anyone for an undertaking. Instead there is uncertainty in every situation. The wise are those who can wrest great advantage from circumstances opaque to everyone else.” – 365 Tao: Daily Meditations

No big change to what we discussed in our > latest Weekly Outlook Video.
One of the key charts we will be reviewing, discussing and following today is XLF. As we have been discussing for a while now, Financials are a key piece of the puzzle and a lead indicator.
Key inflection points coming up on ITY and JNK too:
Keep an eye on the Twitter Feed today. Will try to post some updated charts there too.
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.

Chart of the Day

| 50Pips

“When nothing seems to help, I go and look at a stonecutter hammering away at his rock, perhaps a hundred times without as much as a crack showing in it. Yet at the hundred and first blow it will split in two, and I know it was not that last blow that did it, but all that had gone before.” – Jacob A. Riis

The aggressive squeeze continues in High Yield and it’s going to be key to see how this resolves for the next structural move across the board. As we have been discussing, our outlook on Junk and the broader markets has not changed in terms of a bigger picture view.
Once again, it’s all about the FED. The turn this has taken is simply > Hawkish FED = Pressure ON / Dovish FED = Pressure OFF. We will discuss this today and how it’s important to both trade the hand we are given but also understand the limitations of this simplistic view and how we think this is likely to resolve. The Quick-Take is: nimble and tactical on intraday opportunities but use the broader action to position swings.
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.

Charts of the Day

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“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.

Long Weekend

| 50Pips
“The way to build superior long-term returns is through preservation of capital and home runs…When you have tremendous conviction on a trade, you have to go for the jugular. It takes courage to be a pig.” – Stanley Druckenmiller
No change to our latest weekly outlook video as we move into the end of the week, month and quarter. Keep in mind that fighting flows is a hard way to spend your time, especially if you are doing it into quarter-end re-balancing. Keep the bigger picture in mind, understand the context, be patient and don’t make it harder than it should be.
DXY is still stuck and until we get a sustained break there is likely little edge trying to get aggressive on Crude or Gold. The focus remains on equities…
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-Book

| 50Pips
“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

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“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:

Reminder, if you are interested in the Foundational Webinar Series > New Session.
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.

Getting Interesting

| 50Pips
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
Quick post today > focus is on how we trade into the end of the day and especially on Monday if markets close heavy. Moves are in play and nothing has changed, so please go back to the posts we put out earlier in the week if you are looking for a bit more clarity on what is playing out.
50Scouts members: please check your inbox for a free pass to today’s webinar session.
Here are 3 key charts to keep an eye out on:

Reminder if you are interested in the Foundational Webinar Series > New Session.
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.

Eyes on Bonds

| 50Pips
“Resentment always hurts you more than it does the person you resent.” – Rick Warren
If you missed it, you can check out our latest video > EOY Review.
Here are key three charts that will be in focus throughout the year:

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.

Desperately Seeking Follow-Through

| 50Pips
“I have seen many storms in my life. Most storms have caught me by surprise, so I had to learn very quickly to look further and understand that I am not capable of controlling the weather, to exercise the art of patience and to respect the fury of nature.” – Paulo Coelho
No big change to what we have been discussing to our Latest Outlook Video and blog posts but it does look like markets may be trying to make a sustained move. Once again, we have to stress that for some real follow-through, we need to see YEN and GOLD co-operate and all charts moving in sync with each other.
Apart from the usual suspects, here a 3 key charts we would be keeping an eye out 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.