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Temperatures over here in Spain are slowly crawling higher and the locals are busy preparing for the annual onslaught of UV deprived Northern Europeans (and a few Americans as well). Down here at the lair air massive air conditioning units are running in overdrive as my charting/reasoning abilities degrade inversely with every degree Celsius higher on the scale. There has been very little activity here yesterday and the tape did its best to keep everyone bothering to pay attention bored to tears…
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Watch Your Six
It'll be a short week as many vacation deprived worker bees over in the U.S. are busy preparing for an extended 4th of July weekend. So expect low participation on the market front starting Wednesday and turning into a flatline on Thursday. Which unfortunately works against us this week as this is probably just the quiet before the storm. Since I was gone Friday I'll start this off with a wrap up of where we are followed by a few pointers on how to get positioned and of course some short term se…
Time To Strike The Iron
We are at an important inflection point this morning and it's time to strike the iron as it's hot hot hot! I'm running a bit late today so I only have time to report on equities - but it's a very good one, so pay attention:
This is what's working in our favor right now - the GBP/JPY is still looking divergent or at least unsupportive. Could change quickly but there are no guarantees in the trading game. So let's look at the price action on the futures side:
This is a textbook RTV-S configuration…
This is what's working in our favor right now - the GBP/JPY is still looking divergent or at least unsupportive. Could change quickly but there are no guarantees in the trading game. So let's look at the price action on the futures side:
This is a textbook RTV-S configuration…
Don't Buy The Rumor - Sell The News
I'm sure you've heard by now- the U.S. economy is experiencing major shrinkage. The decline in Q1 real GDP was the largest since Q1 2009 (-5.4%) when the economy was in recession. According to Joseph A. LaVorgna at Deutsche Bank: 'when the economy shrinks as much as it did in Q1, the economy is either in recession or about to enter one.' Gold and bonds just popped and equities are still clinging to yesterday's lows.
This is now officially yesterday's news. So don't get caught up in all the excit…
This is now officially yesterday's news. So don't get caught up in all the excit…
Don't Ever Chase The Tape
Boring markets usually lull hapless victims into a sense of safety and complacency. I see it here in the comment section all the time - time and over again retail is looking for 'action' and perhaps a bit of drama instead of leveraging the market cycles I described yesterday. Case in point is today's whipsaw move on the spoos:
Our Zero indicator provides an excellent way to visualize/understand what has been happening over the past few days. Make no mistake - strong hands got positioned a long l…
Our Zero indicator provides an excellent way to visualize/understand what has been happening over the past few days. Make no mistake - strong hands got positioned a long l…