Market in Context

Just wanted to post this thread from Twitter as some of the blog readers only follow these posts:
Very far from being end of the world, just a correction for now but damage has been done. It’s important to keep this in mind and also focus on the natural implications of not only the ‘size’ but also the ‘speed’ of the move.
One of the ways to get a good view of this is to flip over to a monthly chart ($VTI in this example) and see that we have given back the latest 5/6 months ramp in this recent correction (26 trading days)…
We are trading back at November 2017 levels. Let that sink in… *November 2017*. Doesn’t mean that we’re not going higher but just keep this mind mind for perspective.
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.

Mid-Week Update

“Before enlightenment: Chop wood, carry water. After enlightenment: Chop wood, carry water.” – Zen Proverb
Not a lot to add to our latest weekly outlook video and morning call.
In terms of equities, we’ll have to see if we price this tax plan back into the market yet another time or if we continue to see some profit taking. As far as the levels are concerned, it’s all about the weekly range we have put in so far; bullish above / bearish below.
Here are some of the other key charts we will be focused on and discussing 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.

Friday Blues

“If you always do what you’ve always done, you’ll always get what you’ve always got. If you don’t start somewhere, you’re gonna go nowhere. The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively… don’t gain the world and lose your soul, wisdom is better than silver or gold ” – Bob Marley
Not a lot has changed as we patiently wait for the next catalyst. It did look like some intraday longs dumped stocks into the close after they couldn’t get the usual BTFD traction but it’s hard to read too much into these micro moves… time will tell.
Here are some charts relating to recent questions submitted on the blog. We’ll try and post some more of our chart-book on twitter through out the day.
Brief reminder for 50Scouts members to check your inbox for the free-pass for our live webinar session into NY open.
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.

Food For Thought

“Instinct must be thwarted just as one prunes the branches of a tree so that it will grow better.” – Henri Matisse
If you missed our video updates this week, you can always catch up on our most recetn thinking through these links for the weekly outlook video and/or the mid week morning call.
We’ll keep things simple going into the weekend, just highlighting some of the charts we are keeping an eye on. Don’t forget that today is the last trading day of the month and that we’ll have a lot of data flow to get through. As usual, no change to the way we like to be positioned going into the weekend… btw, we’ll start the charts with the VIX; still no fear 😉
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.