Broad Market Outlook
As the broad market broke down from the mickey mouse flag it was forming this week as it headed back towards its recent low, the overall direction of the market continues to be a coin flip one day to the next.
It's a tight bull flag that looks buy able and the next few days its a bearish engulfing parade back to lows. It seems as if the broad markets wants to continue to shift into another base as it more then likely will want to shake this 380 area of support to the downside. Based off the current base would send it down towards 340.
For myself this week, it was a busy week outside the market as we held our 1st annual private track event that was nothing short of an amazing day full of fast cars, motorcycles and smiles all around.
As we get into summer trading, it could not be a better time to truly get out there and enjoy life a bit.
I can guarantee you not one person in this picture gave two shits about what the market was doing on Thursday and most were too exhausted to care today either.
The day was spent speeding and of course we had to squeeze in a bit of reading. We didn't have the best weather yet it made it more enjoyable when the sun did pop out.
When it comes to trading and investing, we often feel like we need to be doing something at every moment the market is open to avoid missing the next great trade. Yet in the long run, most end up getting burnt out and they lose there edge.
The one thing that has help keep me continuously interested in the markets for more then 16 years has been the ability to know when to power down and focus on other endeavors. When it comes to enjoying life doing whichever endeavors bring you joy it's often best to be fully present and avoid all the distractions. There is nothing more enjoyable then being in cash while on vacation where there is nothing that can bring your day down.
Leave the phone inside, look up and have some fun this summer.
The good times will come around as they always do, yet they often take a bit longer then we want them to, so in the mean time, do something that puts a smile on your face. As there is going to be very slim set ups going into the week ahead that are going to result in much smiling.
If you are in the tri state area our last major Trading Experts Retreat starts this week in Long Beach Island. If you want to come down and kick back for the day or days. We rented a massive beach house that is mere steeps from the ocean.
Just shoot me a DM for the address if you plan to pop in!
Macro Rotation Outlook