It was a rough one for the market today.
Tomorrow’s release of CPI data for October (8:30 a.m. ET) is dragging on things.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
It was a rough one for the market today.
Tomorrow’s release of CPI data for October (8:30 a.m. ET) is dragging on things.
“Why do you rob banks?” authorities asked notorious bank thief Willie Sutton.
His response: “Because that’s where the money is.”
We’re not planning on robbing anybody, but if today’s trade plays out like we think it can, it might feel like we’re stealing. Only, we won’t need to worry about the authorities coming after us, nor will we need to feel bad about it.
Our Analyst Willie Delwiche says that a basic requirement for many bullish ideas right now is that any stock or ETF in question needs to be above August highs. Anything below August highs is subject to a rude reversal. I’m on board with this line of thinking.
So, today’s trade is in an American bank that is above its August high and showing signs of wanting more.
by David
From the Desk of Kimmy Sokoloff
The futures were not that volatile overnight.
Election night is over, but I we are still waiting for some results.
[Read more…]
by JC
We called it the trade of a generation.
And it’s worked great for us.
Now we have a similar setup and I think it can work out just as well. [Read more…]
Am I being creative with my trading?
Am I tinkering with new ideas, new money management algorithms, new mindsets, new products, new timeframes, or new workflows?
We don’t need to be trying all new things all the time. But spending time thinking about divergent ideas is a valuable practice.
When we exercise our creative muscles, we might find nothing other than a journey down an empty rabbit hole. But sometimes, we have epiphany moments that change the way we operate. These can be minor, value-added ways – or maybe even drastic, wholesale change kinds of ways. [Read more…]
by David
From the Desk of Kimmy Sokoloff
I mentioned yesterday that we’d see volatility over the next few days, and the market delivered just that today.
After 1:00 p.m. ET the market took a nosedive. Then it started to level off and even rallied into the close.
by Ian Culley
From the Desk of Ian Culley @IanCulley
For weeks, I’ve been itching to call a top in the US Dollar Index $DXY.
Sentiment, volatility, and momentum thrusts have all suggested an end to the US dollar wrecking ball. But price hasn’t indicated any significant weakness in the structural trend.
The absence of confirming price action has made it impossible to take a bearish USD stance.
But that’s finally starting to change!
by Louis Sykes
From the Desk of Louis Sykes @haumicharts
It’s nearly impossible to switch off when you’re invested in crypto.
I’m a little jealous of those solely involved with legacy markets; it must be nice to have an off-switch. In this part of the financial world, there’s always something happening.
And my passion for the space often makes it difficult for me to let go.
But, last weekend, my hand — indeed, my whole body — was forced. A night in the ER and a few days bedridden with a gnarly viral infection overwhelmed my ardor for fake internet coins.
Happy to report I’m recovering. And here’s me after I stumbled to my computer to catch up on the action:
It certainly helped get me in touch with all the confused people out there who aren’t involved in this ecosystem. Much of crypto’s comings and goings can often seem unworldly and completely foreign.
“This must be how normies feel…” I said to myself.
And now we can turn to the substance of this exchange war between Binance and FTX. It’s so entertaining that it’d be an absolute crime not to discuss what’s happening.
Let’s start at the very beginning…