Too often we focus on price action alone, failing to look beneath the surface. Stocks in the U.S. are making new highs, but across the globe buying is failing to generate new highs. We're making new lows on concerns of economic weakness, but commodities are no longer making fresh lows. When we deepen and broaden our perception, we see what isn't immediately apparent. The quarterback who sees the entire field is more likely to make the right decision than the quarterback with tunnel vision.

When we plan a trade and ground ourselves in that plan, we can unwittingly create tunnel vision. When we develop conviction in a view, we can blind ourselves to fresh evidence that contradicts that view. Having multiple lenses by which we can view strength and weakness allows perception to stay fresh.