I hope you’ve all had a great week! Its been particularly fast-paced here, with lots going on here at the Academy, and of course, out there in the markets.
As this note is coming slightly later on a Friday than anticipated due to this, I thought it would be best to keep it brief and refer you to our brand new Monthly Checklist Report for November which was uploaded for members of the Trading Club earlier this week. There’s a whole host of setups that we featured in Wednesday’s video analysis that I am sure will provide some great opportunities as the action unfolds in the coming weeks.
The key piece of information that I wish to impart is that whilst the broader macroeconomic backdrop still appears gloomy, we have seen some improvement on last month at the periphery in some of our other market Checklists. Full details of which are, of course, disclosed in this week’s video, which is available from the member area of our website.
Before I go, keeping this brief as I suggested, I thought I would share an interesting chart that I stumbled across on Bloomberg this morning during my usual routine of scouring the news for interesting developments. Although those of you who have completed our Million Dollar Traders Online Course will be familiar with the global PMI (Purchasing Manager Index) surveys, this chart of the US ISM and China Manufacturing surveys shows their importance as leading indicators of the business cycle - not just domestically, but also globally (in this case, Japan’s economy, with their GDP plotted in orange).
With each survey having clearly rolled over, I thought this represented the global impact of the world’s largest consumers/producers perfectly. This is why we include the PMIs in our Checklist process, along with other data that have also been showing weakness throughout the global economy.
It’s clear that things are becoming far more complicated in markets, and it has never been more important to trade with the odds on your side with a proven process. If you would like to join us for our full analysis including new insights each week or learn from the ground up with online tuition from Lex in our MDT online course, then join us today and take your financial knowledge to the next level right away!
Have a great weekend,
James Helliwell | Chief Investment Strategist