The Daily Grind

WAKE ME UP WHEN - It certainly hasn't been easy covering markets on a day in and day out basis over the past several months. I love writing every day and am just as passionate about the idea generation and strategy side as I am about the actual trading. But with volatility where it has been, the writing and strategy part has been a tad more frustrating as nothing really changes. Of course, the longer we go like this, the more exciting it gets as the probability for breakout increases with every passing day. But until then, I remain focused on the macro picture and try to keep things as fresh as I can on a daily basis.

QUIET MOVER - Last week, it looked like there were signs of volatility on the horizon, with the stock market ending a sequence of consecutive weekly higher lows and USD/JPY trading back down into key support. And yet, Monday trade has nearly negated these reversal prospects, to keep these key markets locked within familiar trading patterns. While GOLD declines got a lot of the attention Monday, for me, the most interesting price action development came from a subtler source, with the New Zealand Dollar slightly underperforming. I have been looking for a major reversal here and will be looking to see if we can get a breakdown this week.

Monday was quiet but the slight underperformance in the $NZD caught my attention. Via @joelkruger

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