Sometimes all the machinery looks like it is going haywire. Dials are spinning every which way inside the boiler room of iBankCoin laboratory.
The bias model is signalling the short. Exodus algorithms are signaling the long. Next week is also that limbo period where the zombie September contract is still being traded alongside the now popular December contract. This screws with the delta readings and volume studies which are vital to our trading process.
With all these complications, and with the humility to accept we have no edge, the good scientists are taking a ‘hands off’ approach to next week’s trade.
Let the institutions play head games with each other. We shall reassess come next week.
Good luck to everyone being challenged by nature. Whether by the fires out west of the hurricanes in the southeast. Stay safe and live to fight another day.
Distinguished members of Exodus Market Intelligence, the 174th edition of Strategy Session is live. Be sure to check out Section IV “The Week Ahead” where we cover a simple piece of context that will likely give us directional confirmation in the coming weeks.If you enjoy the content at iBankCoin, please follow us on Twitter