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Wednesday Update

| 50Pips
“What this power is I cannot say; all I know is that it exists and it becomes available only when a man is in that state of mind in which he knows exactly what he wants and is fully determined not to quit until he finds it.” – Alexander Graham Bell
As participants tackle the last full trading day of the week, all eyes are going to be on the FOMC Meeting Minutes. Clearly, holiday week trading can be tricky and the market is doing a good job making things hard to read with traditional correlation being out of whack. This is nothing new, we’ll just have to wait and be patient.
As we have been discussing, ZBs are still stuck and waiting for the next real catalyst:
And equities continue the grind higher (eyes on how ES trades from a closing basis around the 2600 mark):
URA has finally started to move and is attempting a sustained breakout from the 12.70/11.30 support zone. It has taken some time but the news flow is finally starting to support our longer-term theme of Uranium prices turning up and moving back in line with the cyclical economics:

As we go into this long week-end break, here are some links to keep you busy until the next update:
Catch you all back on Sunday for the next Weekly Outlook Video.
Wishing everyone a great break!

Desperately Seeking Follow-Through

| 50Pips
“I have seen many storms in my life. Most storms have caught me by surprise, so I had to learn very quickly to look further and understand that I am not capable of controlling the weather, to exercise the art of patience and to respect the fury of nature.” – Paulo Coelho
No big change to what we have been discussing to our Latest Outlook Video and blog posts but it does look like markets may be trying to make a sustained move. Once again, we have to stress that for some real follow-through, we need to see YEN and GOLD co-operate and all charts moving in sync with each other.
Apart from the usual suspects, here a 3 key charts we would be keeping an eye out on 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.

Tech and Bonds

| 50Pips
“I believe the very best money is made at the market turns. Everyone says you get killed trying to pick tops and bottoms and you make all your money by playing the trend in the middle. Well for twelve years I have been missing the meat in the middle but I have made a lot of money at tops and bottoms.” – Paul Tudor Jones
As we wait for the ECB, once again, don’t forget to keep an eye on NQ and ZBs. We can’t stress enough how important the NQ divergence and the ZB dynamics are:
In case you missed it, here is our Latest Outlook Video for the week ahead.
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.

Calm Before Storm

| 50Pips
“If you calmly observe, you will more clearly see situations for what they really are.” – Brahma Kumaris
As equities continue to press higher and as we go into NFP ahead of the now usual weekend risk (North Korean, Catalonia, Iran, etc…) President Trump made some elusive comments on about the fact that “Maybe it’s the calm before the storm”. Hmmmm, Interesting… as we said before, unless we something ‘happen or change’, there is very little on the calendar in term of potential catalyst until the next ECB meeting on October 26th.
Here are some of the charts we will be discussing and focusing on 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.

Waiting for the Weekend

| 50Pips
“I don’t think trading strategies are as vulnerable to not working if people know about them, as most traders believe. If what you are doing is right, it will work even if people have a general idea about it. I always say you could publish rules in a newspaper and no one would follow them. The key is consistency and discipline.” – Richard Dennis
As discussed in our latest weekly outlook video the short-term focus is on potential event risk this weekend with developments in North Korea and with Hurricane Irma. Remember that risk happens fast; it doesn’t matter until it does but at that point, the train has usually already left the station. SPX can be your guide but we would also be keeping a close eye on the RUT and action around that 50DMA.

With the BOC out today, USDCAD will clearly be on our radar. After this 10%+ correction, it will be interesting to see if we see any kind of profit taking pre/post the rate statement. Positioning is very short and the moves could be very aggressive either way with action around the 1.25 mark being pivotal.
As discussed, until we get a sustained move into and through the 18/20 area on the VIX we suspect that it’ll be business as usual.
And don’t forget to keep an eye on ZBs, things could get very sporty here 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.

Friday Roundup

| 50Pips
“The greatest fear in the world is of the opinions of others. And the moment you are unafraid of the crowd you are no longer a sheep, you become a lion. A great roar arises in your heart, the roar of freedom.” – Osho
Everyone is focused if waiting to see if the S&P and the Nasdaq Futures can put in another positive close today to make it 11 in a row… from the stats we have seen floating around, the run to 11 on the S&P has extended only once in something like the last 20 years but as they say; records are made to be broken right?
Looks like time is running out on our call for a vix spike this week but then again, would not be the first time we have be wrong and as you can imagine, the longer they keep a lid on it, playing ‘whack-a-mole’ with that 10 mark, the more explosive the spike will be when it comes… we are not in a hurry. Plenty of patience here.
We posted some key charts this week, don’t hesitate to look back and in case you missed them, you can also check out our weekly outlook video and the F.A.C.E. Interview.
Here are some charts 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.

No Limits

| 50Pips
“If you always put limits on everything you do, physical or anything else. It will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them.” – Bruce Lee
Pretty sure that Bruce Lee wasn’t issuing a subliminal message to a future generation of central bankers but who knows… stranger things have happened.
As we discussed in our latest outlook video, today should mark the start of the real action this week or at the very least, action on decent volumes and not this low volume churn that we had anticipated.
Here are some of the charts we will be focusing on 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.

Buy Everything

| 50Pips
“Beware those who seek constant crowds for they are nothing alone.” – Charles Bukowski
 If you missed it, you might want to take a look at this tweet for a succinct summary of the current investment picture and prevailing mood. It’s very hard to do a better job than that comment to highlight the status-quo. Furthermore, since we are on the subject of tweets, a subscriber sent it this gem.
As readers know, we are definitely not fans of buying highs, so if forced to participate in the buying party, we would much rather focus on ZBs, possibly GC (as discussed in the webinars, we prefer to express this view by holding short USDJPY) and for the high adrenaline junkies why not look at the VIX 😉
Stay tuned…
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.

Thursday Blues

| 50Pips
“Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.” – George Soros
Even as Geo-political risk seems to be escalating, markets remain in a holding pattern. As we discussed in our latest outlook video, we believe that more and more cracks are showing, especially on the tech side. Instead of sounding like a broken record, as we wait for the next catalyst, we will simply post a collection of charts to highlight what we are focusing 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.