That’s it – as of 15 minutes ago we are effectively pope-less and I expect Sodom and Gomorrah like conditions by the time I wake up tomorrow morning. Not that it would make much of a difference down here at the lair. And just to put it on record – in an acute emergency I would be happy to take over papal duties for a week or so. Pope Mole I – yup, that has quite a nice ring to it. Plus I can bring my own bling and fancy robes. How about it?
Well, I’m running a bit short on time this afternoon (my evening) and thus only have time for an update on a few of our main food groups:
I pointed out that 25-hour on the E-Mini this morning and [...]
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.
I’m not sure what’s going on but I ran into a veritable avalanche of setups this morning. Let’s go through them quickly while they’re still hot out of the oven. The spoos do not show us much context but it’s positive that this hourly NLSL was never breached and just expired.
Natgas touching its 100-hour SMA [...]
If you were foolish enough to short the market right after Monday’s drop then please seek medical attention immediately as you just got your face smashed in. Not that I think anyone visiting my humble lair would be this naive, but let’s not forget the legion of ZeroEdge readers who I recall were partying like it was 1999 as equities were slipping on that banana peel Silvio had dropped earlier that day. You got to love the Italians – they definitely have a sense of humor 🙂
Lo and behold after a 50% rise in volatility in one week we’ve recovered about half of that over the past two sessions. And that’s once again why I follow the charts and [...]
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 still treading water but has managed to hold that 25-hour SMA. There’s a NLSL right below now at 1491 which should be good until the open.
The YM (Dow futures) meanwhile is being wedged between its 100-hour and its 25-hour SMAs. One side will arise as victor as both are on a collision course. You can run but you [...]