“I believe in Karma. If the good is sown, the good is collected. When positive things are made, that returns well.” – Yannick Noah
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Forex Overview
READINESS: A knife keeps its edge, Only with honing and proper cutting. A warrior’s virtue is readiness. A sage’s virtue is awareness.
This life is so competitive and challenging that one must remain in constant readiness for the problems and conflicts that come with each day. That is why followers of Tao meld the way of the warrior and the sage. They want the courage and preparedness of the fighter, the luminous perception of the wise. Each day, they dedicate themselves to maintaining their characters and perpetuating their development. But how does one maintain one’s edge without blunting?
There is a fable about a king who was watching his butcher. He was amazed that the man could dismember a whole ox without much effort and without dulling his knife. Seeking to learn, the king questioned his servant, who said that his secret was to insert his knife only in the spaces between muscles, thus parting the body along its natural lines. In this way, where an ordinary butcher had to grind his blade daily, he only had to sharpen his knife once a year.
From this we can learn that we must first hone ourselves to a sharp edge, but the proper use of our talents is equally essential. We must remember to take action along the basic lines and seams of the day. If we do this, we can never be opposed for long.
365 Tao: Daily Meditations
Deng Ming-Dao
If you missed our latest video update, you can access it here > weekly outlook video.
Reminder if you are interested in the Foundational Webinar Series > New Session.
Note for active 50Scouts members: make sure you 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.
Key Drivers
“A market is the combined behavior of thousands of people responding to information, misinformation and whim.” – Kenneth Chang
Here are the 3 key drivers we would be keeping an eye out on today. Remember, you can also check out our latest weekly outlook video.
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
“We cannot see our reflection in running water. It is only in still water that we can see.” – Taoist proverb
If you missed it > latest weekly outlook video.
Yen and Bonds on the move, again, if they continue to get traction, equities will have to move accordingly… getting interesting. Here are the key charts to keep on you radar:
Note for active 50Scouts members: make sure you 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.
If you are struggling or looking to speed up your learning curve, you might be interested in our Foundational Webinar Series.
Wishing you a great day ahead.
Supporting Charts
“What seems too high and risky to the majority generally goes higher and what seems low and cheap generally goes lower.” – William J. O’Neil
Here are some of the charts we discussed in our latest 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.
Crack and Fade
“Experience is what you got when you didn’t get what you wanted.” – Howard Marks
As we have been discussing, these low volume equity ramps on far from impressive breadth are far from what you would expect to see in a strong/healthy market phase. Furthermore, apart from the weakness we have been discussing and reviewing in sectors like Transports, Retail, Health Care, Real Estate, don’t forget to note that apart from the usual suspect in the FANG+ club, we have seen a lot of far from impressive earnings and revised guidance releases. Also, once again and not to sound like a broken record, keep an eye on high yield and metals…
Today’s action should be extremely interesting as we will finally see the market reaction to both the appointment of the new Fed Chair and the Tax Plan. Needless to say, it is hard to see what could come out that would suddenly want to spark a buying frenzy (would take a miracle out of Washington) but as we have said before, these are far from ‘normal’ markets. Bottom line, we still feel this market is due for a healthy correction and even if most have lost hope, there is a good chance that yesterday’s action was a sign that we are ready to see some downside.
A good way to get an intraday feel for possible acceleration is to keep an eye on USDJPY. No matter what metals or equities are doing, unless yen can get some momo, then the move will likely not manage to stick.
Don’t forget to keep an eye on crude; extremely interesting failure at the 55 mark as we enter weak seasonal months.
Last but not least, we will be keeping a close eye on how individual names open post yesterday’s earning releases as we wait for Apple to report today. No change to our Tesla outlook, since the double failure at the 380s. We have nothing against Elon but since we continue to refuse to believe that he can walk on water, we are looking for a healthy dose of reality and a move back below the 300s into the 280s (and this is purely a conservative technical target).
In case you missed it, here is our Latest 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.
Still Waiting
“You can fool all the people some of the time, and some of the people all the time, but you cannot fool all the people all the time.” – Abraham Lincoln
No change in outlook as the market continues to pick up pennies in front of a steamroller into earnings. Here are updated charts on some of the key moves we have been discussing:
In case you missed it, here is our Latest Outlook Video for the week ahead.
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.
FX Chart Book Overview
“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
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.
Still Waiting for Jackson Hole
“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
