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Sadly we all had to hear the news today of Anthony Bourdain's death.  I loved his style of writing and his many shows.   This was a talented creative man who seemingly had it all and was well liked, respected, and did pretty well in his career.  He lived his life in a very full way, open to all opportunities, treating people all over the world with kindness and respect no matter status.  He lived experience through food as the common bond of all people.  But, he suffered from hidden problems that overcame his will to live that incredible life of his.  This quote from his book Kitchen Confidential that showed he had frightening concerns of regret like everyone else has at some time in their life.   "[When I die], I will decidedly not be regretting missed opportunities for a good time. My regrets will be more along the lines of a sad list of people hurt, people let down, assets wasted, and advantages squandered."   The tragic part is that he was right in that many people are hurt, people are let down, assets wasted, and his uniqueness that was his true advantage is now squandered.  

Other sad news comes from Charles Krauthammer,  a Doctor, a political writer and Fox News commentator.  He announced his cancer has returned and he has weeks to live.  This is a man who while attending Harvard Medical School became paralyzed from the neck down from diving into a pool. That didn't stop him from living a full life too.  He was well respected by both sides of the political spectrum which is nearly impossible.  He was calm, smart, and seemed to always have the right thing to say whatever the political situation even if he was critical of someone in his own party.  He penned a good bye letter in the Washington Post today and it's a message of no regrets. "I leave this life with no regrets. It was a wonderful life — full and complete with the great loves and great endeavors that make it worth living. I am sad to leave, but I leave with the knowledge that I lived the life that I intended."

I know these are pretty heavy thoughts, but it made me think of one of the greatest and most destructive emotions of investors.  Regret.  We all have it at times.  I've traded in my lifetime billions of shares of stock and if I started to regret ever not selling or buying something, I would probably not be able to function.  Even Warren Buffett recently said he regretted missing buying Amazon.  The point I'm trying to make is that we only can make the best decisions based on what we know today and when we invest we have the belief that something will go up or down based on just what we know only today.  We use all sorts of tools and experience to increase the probability of something working.  When it doesn't work, if properly diversified (which I preach position sizing and stops) you live to play another day.  When reading the quotes above, it should inspire you to do well by people close to you and the people you pass by who will never know.  To invest without regrets and to strive to live to play another day.  By doing that you'll grow old rich in the most important ways.  And of course, money is one of the ways yet I can think of many other ways higher on the list.  

Have a great weekend.  Thanks for all your support.  Please share with anyone who might like our work and tell them to sign up.  T

Notable:

• US Markets - Sentiment back to elevated.  A little more upside left but no volume and momentum
  
• Hedge Fund Telemetry Trade Ideas - Added some new ideas
  
• Italy is still risky
  
• Currencies
  
• Hong Kong China ETF still looks ok and Tencent was down a little last night
  
• Brazil Update - Still do not see a bottom
  
• Gold and Copper Update
  
• Consumer Staples - Still looks bullish and a few new ideas
  
• FAANG Update
  
• LULU Update
  
• Tesla - Back on the short side
  
• Bond Update - Not everything I want to see but buying TLT
  
• DeMark Screens - Daily, Weekly, Monthly upside/downside exhaustion signals within the S&P 1500 and Euro Stoxx 600
  

Here's a link to the Hedge Fund Telemetry market sentiment page with 40 charts of sentiment including equities, bonds, currencies, and commodities updated each day.   

SPX bullish sentiment is at 69% nearing the elevated (+70%) zone

SPY doesn't have much momentum but there still remains an upside Countdown on day 8 of 13.  A little more upside absent of volume and momentum

Nasdaq bullish sentiment is at 67% down from the previous day of 71%

QQQ did get the upside green Setup 9 and a price flip down today (green 1 on downside - trading under 4 previous closes)  Lets see what happens in the next couple days

Russell 2000 did get the pink Combo 13 and is on day 10 of 13 with the red Countdown and green 8 of 9

NYSE Cumulative Breadth gets a lot of attention from bulls and we now have a Combo 13 seen at the peak in January and the red Sequential not shown is on day 11 of 13.  

Trade Ideas - Added back short 2.5% size Tesla, Added long GIS, PM 2.5% size, Added long TLT 5% size

Italy is still in trouble as I have been showing the downside red Countdown on day 5 of 13 and this is a new multi month closing low

Italian 10 year still has the upside Countdown now on day 10 of 13.  

US Dollar bullish sentiment is at 68% and continues to come off the 94% level

DXY US Dollar Index is on day 7 of 9 with green Setup.

Euro bullish sentiment is at 30%

Euro bounce is on day 7 of 9 with green Setup

Mexican spot price was omitted in error yesterday on the Currency Focus.  It is now very oversold (inverted) and on day 9 of a green Setup.  

FXI still looks ok on the long side despite the pullback.  50 is the break out level and 45.69 is the breakdown level.  Maybe it will chop around here but I would lean bullish

Tencent is the largest weight in the EEM Emerging Markets ETF and this company is hardly emerging with a market cap of $500 billion.  This is also about 7.5% of the weight in EEM (including Naspers).  Most people buy or sell EEM and have no clue how the top 10 weighted stocks like Tencent, Samsung, Taiwan Semi, or a few of the mega Chinese banks dominate the EEM.  

EWZ Brazil has been one I have been quite negative on since January and I do not see a bottom yet

Gold bullish sentiment is at 14% yet can and might stay lower a little longer

GLD remains on day 6 of 13 with a downside Countdown and lacks any momentum... down or up

Copper bullish sentiment is at 60% up quickly after I recommended it as a long

Copper Futures however is now on day 12 of 13 so maybe a little more upside.  

The Copper vs Gold ratio is on day 8 of 13 so copper could outperform Gold a little longer

XLP vs SPX monthly ratio chart now has both downside pink Combo and red Sequential 13 exhaustion signals at the same level where it was ahead of the financial crisis

The top 5 Consumer Staples custom index is now above the 50 day and is on day 4 of 13 with an upside Countdown.  PG, KO, PEP, WMT, MO

PM just had a downside red Countdown 13 and has a price flip up.  I added this to the Trade Ideas page long with a 2.5% sized position.  

GIS was added too after another downside exhaustion 13.  Let's see if this can break back above the 45 level.  

PG a recent long idea after the downside Countdown exhaustion 13 is now on day 7 of 13 with an upside Countdown.  I hear the proposals Nelson Peltz recommended are now being implemented.  

Recent upside red 13 Countdown and slight reversal.  Considering the FANG+ is on day 11 of 13 this could still take a few days to confirm

Around 100 I added LULU to the Trade Ideas list and took profits on the reversal.  I didn't like the shorter term tactical chart ahead of earnings so I removed it.  

TSLA was covered on the Trade Ideas page after the daily downside red 13 didn't fail.  I also was looking at this 1 hour tactical chart with the downside exhaustion signals with the potential for a lift higher.  We got the lift and now upside exhaustion on the 60 min charts.  I'm back short with a 2.5% sized position.  

Bond bullish sentiment is at 50% and just like the chart below it is now in the mid point of the recent range.

TLT was added on the long side again with a 5% weight to the Trade Ideas page.  IF.. Big IF this can hold the recent lows and go up Monday a new upside red Countdown will begin.  There is an upside wave 3 target at 125.96.  

US 10 Year Yield is right in the middle of the recent range.

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