TRENDING
Investors and especially the media love round numbers in finance. They are considered important milestones at which retail suckers get lured in just to be pointed directly to the express elevator down to the woodshed. Everyone is excited as the SPX managed to hieve its inflated carcass over the 1500 mark. And not only that – the Dow Jones is but a bagel throw away from climbing over 14,000.
What does that mean to us? Absolutely nothing – they are but numbers in our decimal system and if we we’d be counting in octal the SPX would be at 2734 – in hex it’s at 5DC. So why am I bothering to tell you all that? Well, grasshopper – so when you read [...]
Welcome to our morning briefing. Here we are reviewing short term setups ahead of the NYSE opening bell. If you are a scalper or swing trader then these setups may be of interest to you. As usual keep in mind that these are short term setups although they could be used as early entries for more longer term positions.
The E-Mini is currently testing its 100-hour SMA. Excellent spot to get positioned – I’m standing by to jump in based on which direction she breaches.
The AUD/JPY has a lot of support looming below and I think this is a good spot for a long with a stop below the 100-hour. If that one breaches the last line of defense is the lower [...]
The greenback has been limping all over the place as of late but the good news is that it has managed to cling to its 100-day SMA despite equities switched into overdrive. While everyone is usually talking about yesterday’s news I usually keep my eye on the inconspicuous ones. The ones who drive everyone nuts for a while until the bus is empty.
As you can see it’s been failing its 100-day SMA for weeks now, but at the same time it’s also been working on support which I emphasized via a green diagonal. Thrown into the mix is the 25-day SMA which is going to meet the 100-day in a matter of days. The only assembly is now forming a wedge pattern which [...]
Welcome to our morning briefing. Here we are reviewing short term setups ahead of the NYSE opening bell. If you are a scalper or swing trader then these setups may be of interest to you. As usual keep in mind that these are short term setups although they could be used as early entries for more longer term positions.
The spoos are back at the 25-hour SMA watering hole. Great spot to add positions and climb the latter. If we get a breach then look for a drop to the 25-hour BB below and then the 100-hour which would then be near 1490.
Gold working its way further down – the 25-hour seems to be a great spot to add postions. Long on a breach of course, [...]
