Overview:

The purpose of this article is to provide some insight into potential upcoming trades and portfolio management across several markets. 

Cryptos:

The recent pullback across the crypto market has many calling for lower prices.  Across social media pages there is a lot of bragging on how they closed this trade and that trade for a profit.  Many are now calling for a swing lower to the mid to low 4k area.   Many are looking to add in the 3-4k area.  When you see the herd overly bearish and looking to add that much lower it seldom happens.

Though the position is not ideal for adding positions or taking a swing trade, we are going to take this as a contrarian signal, and take a swing and couple position trades here.  I still think there is some gas left in the tank.

Stocks:

JPM beats earnings and gives the thumbs up for the economy.  Yet the market is already trading near its highs.  Remember markets are forward looking not backward.  This move has been relentless, and though we are bullish in the long term, we think the market takes a breather in the short term.

One point of evidence is the number of IPO’s being introduced into the market.  This is normally a sign of a market high.

Forex:

The dollar is showing signs of topping and we are now looking for short dollar pairs.  With the Euro trade closed we have a couple other pairs on our list starting with the NZDUSD or Kiwi.

Comodities:

Gold is just a mess and is searching for direction.  Until we see a breakout either way, this is on the side burner for trades.  However, we may take a trade in silver which is showing further weakness.

News Events: 

Nothing big on the economic news front, other than the EUR ZEW report, GBP CPI and the USD retail sales.  The big news is going to be earnings across the various leaders in different market sectors.

 

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