Daily Briefing – June 30, 2020

Published on
June 30th, 2020
Duration
27 minutes


Daily Briefing – June 30, 2020

Daily Briefing ·
Featuring Nick Correa, Ed Harrison, and Dave Floyd

Published on: June 30th, 2020 • Duration: 27 minutes

Managing editor Ed Harrison joins Dave Floyd, founder of Aspen Trading Group, to discuss how to evaluate markets from a technical perspective. Believing that it’s important to “follow the tape” and trade what an investor sees, Floyd shares where he believes bonds and the S&P are headed and how both technical and fundamental analysis inform each other in a market rocked by COVID-19. Harrison and Floyd also touch on distortions of market signals, volatility, currencies, and silver. In the intro, Nick Correa discusses the potential impact of the Payroll Protection Program on small businesses and how the spread of the virus in the US further hurts their chances of making it through the pandemic.

Comments

Transcript

  • PS
    Paul S.
    3 July 2020 @ 08:37
    What baffles me is the enormous disparity between the tape readers like Floyd and Tony Greer and the RVDB commentators who are looking at economic trends.
    • DF
      Dave F. | Contributor
      6 July 2020 @ 14:48
      Paul....thanks for the reply/comment.....I assume you mean that we are arriving at different forecasts and trends? If so, I agree, it cements my belief, as well as others, that leaving out price action in terms of one's forecasting model is a poor idea. A lofty forecast is useless if price dynamics do not confirm it. Case in point here, since I sat down with Ed last week the S&P's (as I had noted) continue to move higher (+120 points)....pausing and refreshing at all the levels on the charts....DESPITE continued mounting COVID cases etc etc...and trading in 10-Year Notes has been spot on based on the S&P price action.....double the fun! I am not a raging bull but cannot ignore the reality of what is happening NOW
  • JS
    Jon S.
    1 July 2020 @ 06:04
    I think if RV includes a technician every week (just one), it will combine perfectly with the fundamental views. Congratulations and hope this idea will be of your interests.
    • CT
      Chris T.
      1 July 2020 @ 06:51
      This. Would love to see some more chart analysis
    • SH
      Sahil H.
      1 July 2020 @ 13:14
      yeah would be cool to see peoples TA especially day if we can get a variety of traders that trade different TF's and different asset classes. I realise this is kinda against the theme of RV being primarily macro channel but it would be nice to see from time to time (maybe even once every 2 weeks)?
    • JS
      Jon S.
      1 July 2020 @ 18:59
      Hey, I thought I was the only Jon S.?
    • OH
      Oliver H.
      1 July 2020 @ 20:53
      Agreed on the charts idea
  • BM
    Beth M.
    1 July 2020 @ 20:07
    Ed, always does a great job...thinking thru thinks and as an interviewer! Well done.
  • OM
    Owen M.
    1 July 2020 @ 13:26
    i really enjoyed this DB....a technician / ST trader once a week is welcomed. There are a myriad of investing and trading strategies out there and it is nice to get a pov on all of them.
  • NL
    Nicola L.
    1 July 2020 @ 13:24
    I think that more chart analysis would be really appreciated by users. Overall, I would say nice content, really enjoyed this Daily Briefing
  • IP
    IDA P.
    1 July 2020 @ 13:06
    What I never understand about technical analysis is that the classical chartists right now all see a weaker DXY, and the Elliott wave instead sees a stronger DXY, I hope someone can explain how can this be....
  • BR
    Ben R.
    1 July 2020 @ 11:09
    Has anyone figured out when the crypto event is released to us Subscribers? I thought we would have access for the actual event and not have to wait. 🤔😕
  • MK
    Mihhail K.
    1 July 2020 @ 09:03
    Would be nice to display charts when you are mentioning technical levels
  • JK
    Jens K.
    1 July 2020 @ 06:43
    Would love to have one of the technician that focus on FED liquidity on the Daily Briefing such as Tom McClellan.
  • XM
    Xavier M.
    1 July 2020 @ 04:25
    Wonderful to see Mr. Floyd again. This notion of trading “what is” is fine I suppose, but one must have a bias and structural framework especially during this madness. Nice to see silver and gold mentioned, though briefly. The gold mining plays are apparently starting to hot up. Cheers.
  • AS
    Abdul S.
    1 July 2020 @ 03:48
    As always great perspective Dave Floyd. Silver $20 it is
  • MO
    Miguel O.
    1 July 2020 @ 03:07
    Hy RV...love the content and the conversations...they keep getting better and better. Any chance to have some basic editing tweaks like adding an actual chart of the SP...to visually enhance the conversation of levels...and explain Nick's thesis. Just gives so much more detail and color to a technical chat. Thanks
  • JD
    Jesse D.
    1 July 2020 @ 02:58
    Well said and exactly how I feel. Basically, fundamentals don’t matter right now but they might soon so be careful.
  • MC
    Michael C.
    30 June 2020 @ 23:38
    I respect the guest's opinion. But I think one should keep in mind he is trading "what is". Tomorrow morning he fires up his monitors and based on what he sees decides to flip and go short the market. No problem...new data and react to it. I thought the two throw aways were the yield curve inversion which would have been interesting to explore a bit more and silver breaking out and his take on it. Gold hitting an 8 year high should been worthy of a couple sentences but hey, all in all, good interview and a trader who doesn't marry his positions. Thanks!
    • DF
      Dave F. | Contributor
      1 July 2020 @ 02:10
      Hi Michael....I might disagree a bit with this comment: "But I think one should keep in mind he is trading "what is". Tomorrow morning he fires up his monitors and based on what he sees decides to flip and go short the market. No problem...new data and react to it." What 'is' normally does not change too much day-to-day, narratives largely speaking take time to play out. So for trades that I expect to last a few days or a few weeks, not much changes to alter my view 180 degrees....yes I might bail on the idea sooner than expected but it does not mean that that narrative is dead....just on hold for a later time....hope that makes sense. Dave
  • DS
    David S.
    30 June 2020 @ 23:29
    Mr. Correa is a great trader. Just looking at the charts is probably the best way to play this Fed induced momentum market. I just could not sleep at night. We do have common ground with silver. DLS
    • TT
      Tokyo T.
      1 July 2020 @ 01:36
      His name is Dave Floyd
    • DS
      David S.
      1 July 2020 @ 02:06
      Tokyo T. - Sorry. Luckily, I was referring to Mr. Floyd. Thanks for the correction. DLS
  • SC
    Sam C.
    1 July 2020 @ 01:58
    Interesting comments about trading what is. I all too often get grounded in the belief of what should be and miss opportunity. While I missed the entire drawdown by being long gold, bonds and cash I missed an enormous rebound for what IS. The frustration is real! I will let you all know when I go long risk so you can make a bundle on the short side.
  • HS
    Hamish S.
    30 June 2020 @ 23:09
    Dave's great. Loved his how to trade/technical analysis series he did a while back.
    • DL
      Dan L.
      1 July 2020 @ 01:51
      Would like to see that come back
  • DS
    David S.
    30 June 2020 @ 23:56
    There is a tug of war between the CBs/governments trying to save stock markets and a little virus who does not care about any markets - maybe wet ones. For me, the COVID 19 die is cast. With global new cases over 150,000, herd immunity will be achieved through illness before possible vaccines can be effective. This will take a lot of time and illness. It is certainly good at spreading. I hope – “it is just the flu” turns out to be true for most people. Until the virus is defeated one way or the other, technical and tactical trading will be in vogue. Enjoy the moment. DLS
  • MD
    Matt D.
    30 June 2020 @ 23:49
    Great interview Ed, great guest Dave. From a personal perspective I enjoyed the shorter time frame discussion the open discussion about real (live) trades/trading. There are some goofy things happening for sure. I will watch the $AUD S&P correlation a bit more closely - wonder if it could break that correlation from a macro perspective (I know the risk on/off trade has been strong the past while)? Thanks Dave, thanks Ed.
  • CR
    Colin R.
    30 June 2020 @ 23:42
    Could anyone explain to me whats going on with USDTRY? The last 14 days doesn't look right, theres no correlation to other pairs - What's causing this? I didn't hear about a pegging
  • CB
    Chris B.
    30 June 2020 @ 23:13
    Kudos to RV for bringing on a technical trader. More please!
  • ER
    Ernesto R.
    30 June 2020 @ 22:28
    excellent interview and great guest
  • TB
    Tobin B.
    30 June 2020 @ 22:20
    good new guest
  • DG
    Dave G.
    30 June 2020 @ 22:17
    Everyone sounds them same up up up.