WEEKLY FISHING REPORTWhere you tune in to my Weekly Fishing Report + Weather Forecast
Where The Fish Are Jumping
There are so many services (big and small) that do a great job of summarizing the markets and/or setting the stage of what’s expected moving into a new week. There are many places to source potentially market-moving calendar events and macro news. As an active trader, I tend to have my fave reads and so should you. But I won’t repeat or rehash market reviews here. I assume everyone knows where to find their local weather report.
My Weekend Fishing Report is two-fold: Review some of the Catch from the prior week’s fishing trips and do my own due diligence on weather patterns coming up to better prepare and navigate our upcoming fishing excursions.
This is not a chart review per se but an Intermarket Analysis chart review. What’s the difference? My Pre-Monday Routine is not about scanning individual charts of stocks/sectors/indices specifically. Instead I review my list of Intermarket Analysis charts, which graphically represent relationships (strong and weak) that can be foretelling of how specific stocks/sectors/indices will move! I am not a quant. I am a pattern recognition expert. Here’s an example: Anatomy of a Trade: Yen Short
So if you tune in to my Weekly Fishing Report + Weather Forecast, you should know my perspective on how I read the weather…
When I spy some strong pattern I like with indicators to support it, I actively look for a narrative to justify the price action. Yes, you read that correctly: I look for a reason to justify the pattern, not the other way around. Because I believe:
- Price leads fundamentals;
- Macro events/policies lead price;
- Sentiment is often the ‘noise’ that tries to obscure price; and
- Intermarket analysis is the Secret Tell that helps remove the noise and forecast a move before it happens.
And all of this weather pattern work is why I call myself a Strategic Technical Analyst. Technical Analysis is the science and art of reading a chart, for a pattern, that is made up from an AUCTION between buyers and sellers. And knowing when to enter or exit a trade, safely, is largely technical in nature.
In Summary, each weekend I may listen to others review and report on the weather. But weathermen can be wrong. I like to create my own models and interpret them.
I guess you could say I like to make the weather.