I have a mixed perspective on the situation in equities right now. It’s impossible to predict the direction of the resolution of the current impasse but it’s clear to me that it will be explosive. At this point I do not see any conclusive evidence that signals a low is likely to be in place. In other words, if the bears can muster up the mojo there is still downside potential left on the books. Of course that does not rule out a bounce – so to make sense of it all let’s look at three key charts which I present as the good, the bad, and the ugly.
Here’s some theme music to get you into the spirit of things 😉
The good: Clearly [...]
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.
Starting to look ugly on the equities side. The cylinders are still pumping and unless we’re seeing some aggressive buying this thing is going to fall off the plate. My trigger for the short side remains at 1760. Yes, good chance I may get whipsawed a little – 1780 is where I would start scaling back into longs.
The GBP/JPY is [...]
Enjoy a re-run of today’s E-Mini session exhibiting participation as measured by our Zero indicator. On the left side is the hourly panel and the Zero Lite runs on the right via the 5-min panel. Swing traders and scalpers are encouraged to watch the 5-min panel for early clues – in particular price/signal divergences and lack of participation as expressed by a flat signal. If you like what you see then may want to watch some earlier ones – you will find plenty of examples of what to look out for and how to avoid common traps when trading the E-Mini. Plus you may enjoy the tunes 😉
Per popular request – this was a pretty sweet day for the Zero [...]
And that is how you call the shots like a boss. Unlike some degenerate attention whoring wannabes who have make it their mission to drop by every few weeks with spurious and rather vague predictions the Mole calls it as it is. Here is where you buy and there is where you sell – today and not some imaginary day in the future. Everything else is just fancy talk and mental masturbation.
That’s right – I’m a wild boy! So don’t come back here once the market has tanked and pretend that you’ve loaded up near the top. I will stomp on you like the miserable pretentious bug that you are. If there’s anything immutable about this game [...]