wti

3 Day Weekend

| 50Pips
“Out of clutter, find Simplicity. From discord, find Harmony. In the middle of difficulty lies Opportunity.” – Albert Einstein
Once again, there are no big changes from what we discussed at the start of the week in our Weekly Outlook Video. Trading into Memorial Day Weekend can be a bit of a snooze; we’ll have to see. Usually, markets tend to open up bid after the holiday and weaker seasonals start to make an appearance closer to the end of the week and into June.
In today’s session we’ll continue to discussed the Italian situation, DB and focus on open swings relating to the usd move (the yen, swissy and gold trio). Furthermore, it’s time focus on some of the weekly charts 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.

Tricky Read

| 50Pips
“We keep our cool when others don’t. The point is, markets adapt. Don’t listen to all the crap out there.” – David Tepper
It’s a tricky read on the indices at the moment but it does look like the one to watch now is the Dow, especially if it unwinds the recent ramp through previous yearly highs. All the others are already showing signs of fatigue despite the odd perky intraday ramp here and there.
Something else that is worth considering in how CL has pressed into our targets in the low 40s despite recent news and as the VIX keeps not really caring… as we have said before something has to give.
Lastly, nice little positive daily close on GC right off the 200dma, we are not going to complain as we see this an extremely interesting asymmetric opportunity for positioning into the weekend.
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.