Focus Remains on Tech

“Poker reveals to the frank observer something else of import—it will teach him about his own nature. Many bad players do not improve because the cannot bear self-knowledge” – David Mamet
In case you missed it, you can go through our > Weekly Outlook Video.
As we move into November, these are some of the points we will be focusing on in today’s webinar and video update:
1. How is FB going to settle today post earnings.
2. Are month-end flows going to come out swinging to defend the marks.
3. Can the month-end USD bid continue into November or is it just settling up swing opportunities.
4. How will AAPL trade post earnings, can it really stall the overall selling pressure or will it trigger an even larger correction.
5. Continue to keep an eye on intraday action in USDCNH for clues and tactical opportunities.
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

“But the real object of the Game is not the money, it is the playing of the Game itself. For the true players, you could take all the trophies away and substitute plastic beads or whale’s teeth; as long as there is a way to keep score, they will play.” – George Goodman (aka Adam Smith), “The Money Game”
Netflix is a great example of what we are currently witnessing; a weakening market that is still fighting but ultimately, very tired. We will discuss this kind of action in detail during today’s session but the bottom line is that we are sticking with the call we made in July > Netflix has topped and we are using this for our control chart for the overall market.
Keep in mind that we will likely see a lot of chop and volatile action in EUR and GBP due to Italy and Brexit and that related currency moves could lead to a lot of head-fakes but also interesting opportunities. In terms of the bigger picture, we would be a lot more focused on action in USDCNH (shorter-term) and USDJPY (longer-term).
As already discussed and reviewed, remember that there is a big difference between a scenario where we have Stocks Down/Bonds Down and one where we have Stocks Down/Bonds up… more on this in the video updates and the session.
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.

Some Charts for the Week

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 week ahead.

All About Tech

“In my experience the greatest of artists and competitors are masters of navigating their own psychologies, playing on their strengths, controlling the tone of battle so that it fits with their personalities.” – Josh Waitzkin
As we have been discussing for quite some time, it’s all about the tech names and since Amazon has now accounted for almost 30% of the S&P gain this year (close to 50% if you factor in Microsoft and Netflix too), it only seems fitting that we end the week with a look at some of the tech charts:
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.