Despite my lack of video updates lately, rest assured I have been recording my screen. There just hasn’t been any particular news items worth adding to the Harry Hindsight Highlight Reel.

Instead, seeing as it’s the weekend, I thought it would be nice to take a quick look back at the S&P 500 chart, for the last 5 days, making notes of where news contributed to the market action.

Two things to note:

1) The Twitter Rumours regarding a possible emergency Putin Conference caused an obvious stir – but I watched back the replays, and the information came out in dribs and drabs, as you would expect from a social networking source. This was not a classic “free money trade”, despite how it may appear on the chart…

2) I considered drawing up comments on various other charts such as the EUR, TSYS, Oil etc, but I felt the S&P500 nicely captured any key talking points.

Taking stock of events.

Despite recording all the action from the week, there were no specific harry hindsight news plays that I felt warranted a video clip.
As the blog has progressed, I have become more selective about what qualifies as a potential “free money trade”. There have been a handful of key moments over the last several weeks; I’d like to review the biggest of them on a 60 minute chart, to really put them in context.

What I found quite surprising was the lack of higher time-frame “follow-through” in each instance of news. Draghi or Yellen might say something important and dictate the market direction over the following couple of hours, but the very next day – or soon enough anyway – the market retraces the whole move. It makes me wonder just how significant news is in the grand scheme of things?…

S&P500, looking at key news events of the last several weeks.

EUR:USD, looking at key news events of the last several weeks.