Daily Market Intelligence 7/15/22

Chips led by Intel was the late day feature.

MSFT put in a bottoming pattern after investors thought Gates was done selling.

The Room was on it in a big way today.

Everyone covered shorts @ the matrix and many went for the ride all the way back up.

Oil is trying to bottom against the Yen, however there are no other confirming signals.

We had an early conversation about capital flow and where the Dollars being bought were going.

Yra noticed a jump in the Eurodollar and Fed Funds.

Tomorrow is another day and we’ll see what sustains direction.

Morning Judd,

I know we don’t talk about trade specifics in the room, but I wanted to share with you privately that I had been short ES minis since late last week and they finally hit target this morning, and I am flat and happy. And wanted to thank you for your work and for the matrix numbers. I have struggled in the past to stay committed to my targets and ignore some of the shorter term noise and I really nailed it this time. So, again, thank you for your work and for the room and for the other talented folks you’ve attracted to the room. Particularly for me, Angelo, his trading style and thought process really speaks to my sensibilities (and I have let him know this too.).

All the best,

P.s. I’ve been thinking about this a lot over the past months/years and what I think is most important that can be distilled—over a long period time—from your room is learning and determining what type of trader you are-long, short, day, swing, futures, options, currencies etc and then sticking to that and shutting out some of the noise that can derail your process.. but at the same time always paying attention to certain long term spreads and levels that can be a sign of an overall shift in long term outlook.

This keeps me getting up in the A.M.!!

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