The great trade war of 2018 is officially on after months of increasingly belligerent and often hate filled responses by clearly dumbfounded political leaders over in China as well as the European Union. Frankly I sometimes have to pinch myself in the morning just to make sure that I am not in fact living in a cheesy episode of the Twilight Zone in which common sense and rational thinking have become relicts of the past.
I swear this tape is going to give me an ulcer. Although I’m definitely not looking forward to the rainy season here in Spain I frankly can’t wait for the vacation season to be over. The gyrations were pretty bad before already but the low participation ping pong is getting ridiculous. Which is why I consider it to be a veritable miracle how well we have fared playing the swings over the past few months. But boy it truly is starting to take a toll on market participants across the board. I for one have never worked so hard to squeeze out so little.
One of the more rewarding aspects of trading for a living is to wake up on a Monday morning and upon checking your account finding the majority of your positions squarely in the green. Not surprisingly this seems to happen primarily with campaigns that emotionally were very hard to take and thus had left the bus empty upon departure.
Alright, we’re only half a session away from Independence Day and I assume many of you guys are either busy packing your bags or have left early to beat the crowd. And who really wants to look at charts whilst on vacation? Well, you’d be surprised, so here are a few medium to long term charts for the road.