TRENDING
In last week’s ‘Tickling The Dragon’s Tail‘ I mused about the possibility of a VIX Buy Signal on the horizon. Which was followed by a sideways session in the S&P 500 with the VIX actually dropping lower. At the same time the VIX:VXV ratio pulled > its upper second standard deviation and all that means that the fun and games are just about to begin this week. Confused? I don’t blame you but as usual the ole’ Mole’s got you covered:
I’m old enough to still remember spending an entire week or even several months without hearing about some tragic event shocking the nation or sometimes the entire world. These days it seems that an ever growing number of terrorists and nutcases are literally standing queue for a chance to bring about their respective desire for revenge or to simply just to watch the world burn in perceived retaliation for their own personal failures. I could never imagine throwing my life away like that but it would be naive to say that these sort of actions do not have an impact on society as a whole on a long term basis.
I think it’s fair to say at this point that Bitcoin (BTC) and crypto currencies in general are here to stay. Although BTC continues to be volatile as hell its blockchain now holds over two million BTC wallets, a steadily growing trend I expect to continue in the future. The current hype surrounding BTC actually reminds me of the mid to late 1990s when the Internet started to slowly evolve from a novelty reserved to the domain of intellectuals and geeks to something you needed to be part of if you wanted to be hip.
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.
Nice activity this morning which presents us with nice entry opportunities. Time to get busy! Here are the spoos which have descended a bit over night and are now approaching the 100-hour SMA. I think a long near 2121.75 with a stop below 2120 has merit. If that one goes then we probably drop to 2113.25 or lower.
Similar pattern on the NQ [...]
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