TRENDING
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.
Equities have been holding soft support in accordance to the level of participation I observed in yesterday’s session. No guarantees or reason to jump to conclusions but things are looking a bit more positive as of right now. The TF is currently plotting above its 25-hour and an hourly NLSL – so far so good (for the bulls that is). As you [...]
Emotions are a very powerful force especially when paired with recency bias. Plus we are extremely good at worrying about things we have very little control over. If it rains a lot we worry about possible flooding – if there’s a long draught we worry about not having any rain. Very few folks think about the possibility of droughts during a wet winter (when you could prepare for it) – or floods during a dry one as the one some of you guys are experiencing in California right now. That’s how we’re wired and surprisingly it seems to works pretty well in the natural world – you really can’t argue the lessons of Darwinism.
When it comes to [...]
With equities still buoyant it seems that the bulls may have a real chance to once gain pull the cart back out of the mud and get the show back on the road. We have some positive signs on the equities horizon plus a plethora of setups, so let’s get to it:
Once again the VIX is painting a buy signal – assuming nothing nasty happens in the woodshed before the NYSE close and that we finish below 18.5. Once again – a VIX buy signal is relative to equities, not the VIX – the implication usually are higher prices within a week’s time.
The spoos are now running into short term resistance which may be good news – hear me out. [...]
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 have managed to claw back some territory overnight. It’s now heaved itself over the 25-hour SMA mark and I would be tentatively long here with a stop below that NLSL at 1589.25. Short below of course.
Gold stuck between two Net-Lines – entries (and inverse) stops shown on the chart.
AUD/JPY in a possible [...]
Misses Mean Reversion 2015 Runner Ups
