“Soros is the best loss taker I’ve ever seen. He doesn’t care whether he wins or loses on a trade. If a trade doesn’t work, he’s confident enough about his ability to win on other trades. There are a lot of shoes on the shelf; wear only the ones that fit. If you’re extremely confident, taking a loss doesn’t bother you.” – Stanley Druckenmiller
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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.
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
“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.
Chart of the Day
“The gap between what you say and what you do, between what you promise and what you deliver, is like a drain in the road. The drain is where water escapes, just as your power will seep away if there is a difference between your words and your actions. Ask yourself everyday, were your thoughts, words and actions aligned? Ask someone else what they saw in you too. Feedback is the food of all positive change.” – bkwsu.org
No big change to the key market drivers we are keeping on our radar, we discussed these in our Weekly Outlook Video. Post FOMC, it’s always a bit tricky as the market has to settle and find its way around previous day range. If we had to focus on one key chart, then that would have to the USDJPY weekly. We’ll be discussing this in detail today along with other key developments and changes in our chart-book.
Thanks to all those that voted in the poll yesterday. Talk about being off them Mark; I was convinced that early morning audio updates were a good way to set-up the day but apparently, readers were not fans. We’ll focus on text/charts and video updates from now on.
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.
All about the Fed
“For better or worse we’re a herd leader. We’re at the front of the pack, we are one of the first movers. First movers are interesting, you get to the good grass first, or sometimes the lion eats you.” – David Tepper
If you missed our latest video updates > Weekly Outlook Video & NQ Update.
Today we are going to review and discuss the latest bond moves and what they mean for the broader market and the usd complex. Here are some of the key charts we are focused on at the moment:
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.
FX Overview
“Tell a man there are 300 billion stars in the universe and he’ll believe you. Tell him a bench has wet paint on it and he’ll have to touch it to be sure.” – Murphy’s Law
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
“You should never confuse inevitable with imminent.” – Rick Rule
As discussed in out latest weekly outlook video, equities are still stuck in these chop zones with the 50/100DMAs capping to the upside and the 200DMA supporting to the downside. Therefore, we’ll just have to be patient and keep an open mind unless we can get some sustained momentum outside of these areas.
Going into today and the FOMC, focus will remain on the same charts we highlighted yesterday: AAPL, DXY and CL.
In today’s session we will go into detail on the current DXY move, what it means for the broader market and how to position around key inflection point in all of the major currency pairs. We have reached some interesting zones…
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.
Big J in da House
“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful” – Warren Buffett
