Charts in Focus

“Challenges are what make life interesting; overcoming them is what makes life meaningful.” – Joshua J. Marine
Bigger picture discussed in out latest Weekly 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.
Wishing you a great day ahead.

Chart-Book

“I believe in Karma. If the good is sown, the good is collected. When positive things are made, that returns well.” – Yannick Noah
As we reviewed yesterday, the moves discussed in the latest Weekly Outlook Video are in play.
Short-term, the focus will be to see if the bears can hold the pressure on as we move through triple witching. Clearly, the risk is of a bounce into expiration and how markets move will be very telling. The biggest surprise to most participants will be if indices continue to hold heavy into the close on Friday.
No change to our current outlook > here are a series of links to some of our chart-book: NQ_F, ES_F, YM_F, XLF, USDJPY, JNK, HG, EURJPY, AMZN, BTCUSD and AAPL.
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

“The price of anything is the amount of life you exchange for it.” – Henry David Thoreau
So far, the levels we discussed in our latest Weekly Outlook Video are working > YM failed at that 50DMA, ES at that 2800 and NQ at our primary target into the 7210s. In terms of the Bonds, as expected, they are trying gt bounce into FOMC and the DXY remains heavy.
As we have already discussed in various occasions, broadly speaking, we are still chopping around in these ranges so there is very little to add to what we have been discussing and reviewing. As much as this kind of action may be frustrating to the die-hard bears or bulls, active traders really can’t complain. We are getting very tradable intraday ranges and even if some of these moves have been tricky, markets are moving and keep on offering plenty of opportunity.
Going into today it’s all and only about one thing: follow-through.
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 Book

“The psychologist Gerd Gigerenzer has a simple heuristic. Never ask the doctor what you should do. Ask him what he would do if he were in your place. You would be surprised at the difference” – Nassim Nicholas Taleb
We got some very nice intraday action yesterday across the board. As expected, the cleanest opportunity in terms of location, technicals and context was around the 7k level on NQ for a retest of previous day lows and thanks to Powell, very similar setups triggered on YM and ES too with failures at previous day highs. The focus now is going to be on how we trade into month and and if we can get some follow-through.
As we have been discussing, other points of interest will be: indices in Asia and Europe (they have been holding heavy), DXY momo (crucial for current moves to stick) and CL on EIA today (key weekly level).
Here are soe of the charts we will be going through today:
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.

Patience

“Determination is the strength that will enable you to pass the barrier of useless thoughts in order to create positive thoughts and to be successful in whatever you wish. It comes from within and its partner is patience. Patience teaches you not to push but rather to wait and appreciate the game of life instead, knowing that nothing remains the same, and everything will change at some point.” – bkwsu.org
No change in outlook from our side as we move into the last trading day of the week and quarter. It will be very interesting to see if the magical bid returns into equities to avoid a nasty close into this long weekend or if indeed, this healthy retracement will continue and give everyone plenty to talk about before we get back into full swing of things on Wednesday.
Readers are well aware of our current stance on the NQ, where we feel something broke on Friday 9th and indeed, action seems to be confirming this. However, it is important to note that what we have witnessed so far, across the board, is merely a flesh wound… nothing to write home about; at least, not yet.
In other news, we are watching GC and ZBs very closely, more on this in the near future… here are some key charts and levels for 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.

Pressure On

“I will not allow yesterday’s success to lull me into today’s complacency, for this is the greatest foundation for failure.” – Og Mandino
As we have been discussing, it was not a matter of ‘if’ but rather a question of ‘when’ the VIX was going to perk up again and this could only be the start. To put things in context, nothing has really happened, just a mini-correction for now but clearly a very interesting and welcomed one.
Humble students of the markets should not be too surprised as ZBs, GOLD and DXY where highlighting what was shaping-up, especially with recent action and the other dislocations that we have been repeatedly highlighting. Remember that the talking-heads will always try and attribute a cause to whatever happens (and it’s human nature to want to find an accompanying narrative) but the charts, with their pure representation of price and time, will be highlighting money flows in real time and with no bias well before anyone can assign specific cause for the moves.
Could end up being an interesting wait until we see Comey testify next Wednesday and don’t forget OPEC too among other things on the data calendar.
These are some of the main charts we are going to be focusing on today in our opening call:
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.

Snooze Inside Range

“There is a side of the Moon which we never see, but that hidden half is as potent a factor in causing the ebb and flow of the Earth’s tide as the part of the Moon which is visible.” – Max Heindel
As discussed in our latest Weekly Outlook Video, we’ll have to be patient around these key levels as the charts have a bit of wiggle-room here.
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.

All About Perspective

“The fact that we live at the bottom of a deep gravity well, on the surface of a gas covered planet going around a nuclear fireball 90 million miles away and think this to be normal is obviously some indication of how skewed our perspective tends to be.”
– Douglas Adams
If you missed our latest weekly outlook , you can access it here > Video Outlook
We hope everyone has plenty popcorn ready for what is setting up to be a very interesting and potentially pivotal month.
This week, it’s primarily about NFP on Friday; first in terms of positioning/squaring and then in terms of follow-through. We strongly encourage readers to remember that price does not tend to move in only one direction for a sustained period of time. It can happen and it can seems extremely irrational but this neither means that it is healthy nor that it is the norm.

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Forex & Futures Outlook | 05/03/2017