Massive Monday Morning Briefing

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.

It’s going to be a busy day – I got more setups this morning than I can shake stick at. Scott pointed out a possible bounce play on the ES/SPX this weekend and here is a bit more context if you want to monitor the hourly panel. The 25-day has now swung below price and if it holds into the open then that should be our line in the sand. A drop lower may bestow us one more scare to lighten the bus.

A bounce may indeed materialize but thus far the GBP/JPY correlation looks pretty meager. However, judging my last week’s push detachment I’m giving it a bit less credence this week.

But the real fun is happening on the futures and forex side this morning. Crude dropped like a rock all last week and we’re now near the lower 100-day BB. On the hourly I want to be long with a stop below 97.5. If you want to play it more conservatively put your stop below 97.05 (last week’s low).

USD/JPY – very juicy formation and I want a piece of the action. Triggers are on the chart – a short play is possible on failure but I think the 100-day SMA will be where the fun ends, so keep that in mind.

But we’re just getting warmed up – please step into my air-conditioned super luxury lair:


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Today’s event schedule:

And here’s the spike controller for you Forex traders. But please put on your sunglasses to protect your eyes – the poor girl has suffered a massive make-up accident (or is the lighting?).

You have been briefed – now have fun but keep it frosty. See you guys later this afternoon.

Cheers,

No Crying Over Spilled Milk (Or Beer)

I’m sure you all know what I’m talking about. Here we were trying to short this bitch several times in the past two days which on my end resulted in three ignominious stop outs – the last one at 1982. Only 1.5R lost, so it wasn’t a big deal but pretty much what I told you yesterday ‘would happen’ of course ‘did happen’ the next day. There was no reason for my stop to be at 1986 – it was too far in enemy territory. And then equities got Amazoned and here we are fifteen SPX handles lower. So what do we do now?

I tell you what we’re going to do. ABSOLUTELY NOTHING. We did everything in our power to exploit an entry opportunity near an inflection point and we simply didn’t get in. That’s life and unless you were on the inside there was no knowing ahead of time that Bezos would slip on the banana peel last night. Don’t beat yourself up – actually better yet, get used to it. Which is why we don’t take large risks on the equities side – or any correlated market for that matter. 1% is the max and if you’re a stock market junkie then always keep a close eye on being as delta neutral as possible (look it up or ask in the comment section).

Now on the ES futures we’re near 1971 right now and there are no major support zones nearby. ES 1966 looks like the next best line in the sand as the 100-hour BB is lingering around down there.

The S&P cash however has been holding its 100-hour SMA and we’ll have to wait until Monday to see if it holds.

But the real news of the day is the one that hasn’t been reported. While everyone else is talking about yesterday’s losers I’ve been taking a long position on the Dollar side (yes, I can’t believe I just said that). This is actually a weekly setup I shared with my subs last night and originally we’ve been expecting ole’ bucky to do the same old thing which is fold like a chair near any major LT resistance. Now I can’t promise/expect that this time it’ll be different but those two NLBL breaches do look promising. The fun may begin if we see a pop aboe 80.993 – so make it 81. That’s where the 25-day SMA sits right now and we’ve got plenty of air looming above.

This is the first time I’ll show the turkish lira here and I have to confess that I haven’t traded this one before. So I’ll ease myself into this one with 1/2R. I however do like the double inside day – and I’ll play the outer one on the stop side. I hope that’s clear as I don’t think my drawing is. Long Sunday on either breach of today’s candle (high or low) – but set your stop on the opposite side of the Thursday candle.

More setups waiting below the fold for my intrepid subs:


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And now it’s time again to kick back and crack open a bottle of your favorite alcoholic beverage. As you all know in my case that of course would be a bottle of Hefeweizen. A simple Paulaner is one of my favorites – it’s smooth but has that typical Bavarian disciplined but hefty flavor. Simple pleasures…. Well, I hope to see you all next week :-)

Prost!

Wednesday Morning Briefing

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 short term setups across the board this morning except on equities. However here we do now have an RTV-L setup active courtesy of yesterday’s close lower. It’s also a hammer long in an uptrend – so that gives us two technical trigger. Entry and stop on the chart – as of this writing we’re getting close…

Gold weaving its way lower and I would be short on a breach of the current hourly Net-Line Sell Level. Stop will be above the 1300 mark – give it at least a handle or two as ST volatility has been very low and it wouldn’t be unusual to see a quick counter spike.

EUR/CHF – this one is a bit unusual compared with what I usually post here. Two entries – one right here on a breach of the already expired NLBL at 1.2155 – and two on a drop lower toward ~1.215. Not interested in the short side here.


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Today’s event schedule:
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.


More charts and commentary below for anyone donning a secret decoder ring. If you are interested in becoming a Gold member then don't waste time and sign up here. And if you are a Zero subscriber you get free access to all Gold posts, which gives you double the bang for your buck!

Please login or subscribe here to see the remainder of this post.

Today’s event schedule – quite a bit of volatility risk on the CAD side:

And here’s the spike controller for you Forex traders:

You have been briefed – now have fun but keep it frosty. See you guys later this afternoon.

Cheers,





    Zero Indicator


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