Setups are everywhere - but the decisive movements aren’t… yet. It’s times like these where wars exist, escalate and end multiple times in a day — in a less liquid summer trading environment, that the temptation to overtrade is most acute.
The US Dollar is chopping in a range that could go either way. The vibration of the dollar is causing the global complex of financial risk assets to act like an ear drum - echoing and interpolating the vibration in every conceivable consolidation pattern. We went short Silver the beginning of this week, and that trade will only work if the Dollar breaks above 100 and holds. I think we’re early on that trade actually. We’ll see how the Dollar closes today.
10 yr Treasury yields broke out-ish, but have also been chopping around - setting up for a big move:
Consolidation patterns in various forms are all across what have been the strongest parts of the market.
Heating oil:
And all across the world of emerging market leaders - we see every flavor of chop: diamonds, wedges, broadening and rectangular ranges…
It’s not time to do nothing - it’s the best time to chart, and map levels to watch for breakouts across these asset classes. It’s time to prepare for what’s next.
See you on the weekend,
Andy
Swing Portfolio (6-12 month timeframe) Year-to-Date Performance: 15.79%
No posts
Comments
Nothing yet. Say the first thing.
Sign in to join the conversation.