April Fools Day 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.

This morning we’ve got a bit of turbulence on the map around 10:00am EDT when the ISM manufacturing data is being released. This will affect equities as well as any USD pairs – watch your behind.

Equities have been steaming ahead but not giving us much context – that sometimes happens but it cannot be helped. If you are already long or are looking for a way to get in then focus on the 25-hour SMA which at this point seems to be the pushing price higher.

Things look a bit more juicy on the TF side (Russell futures) and I am considering a long once that expiring NLSL meets its own 25-hour SMA. Entry would be near 1168.1 – stop below the SMA.

Bonds are again on a downside trajectory and I want to be long on a retest of the NLBL at 132’29. Stop would be above the 25-hour, which unfortunately is only providing soft context at this point.


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Cheers,

Friday 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.

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 recall I currently do not have a dog in this fight as I closed out near the EOD per my campaign rules.

Setups – quite a bit of activity on the Forex front this morning. Here’s the USD/CAD which I expect to continue its current ST trend lower. My entries are on the chart (the opposite entry representing my respective stop). A long is possible here as we have very good context courtesy of the 25-hour SMA.

More below the fold for my intrepid subs – please step into my lair:


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!

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Cheers,

Owned It!

So I ask all of you guys: Just a day or two ago – how many of you imagined that we’ve be pushing toward 1870 on Friday? I surely did not and I remember a bunch of folks here and over on the Slope who were predicting that the bulls ‘were done’. Just like those 1980s pop idols – where are they today?

Given such directional bias I am pretty certain that a very small minority took my short term entry near 1844 on Thursday morning. Which at this point has banked me 22 handles and counting. Now yesterday I already eluded to the fact that I am turning this into a long term trade as we are two hours away from triggering a monthly inside period. Which means I will put my stop at break/even (1844.5) in anticipation of a more protracted short squeeze.

In case you wonder why – yes, as usual there is madness to Mole’s method – or was it the other way around? The P&F target now points toward 2000 plus – that would be something. I’m sure we don’t get there in a b-line but I would be happy with a push above 1900 this time around.

Here’s another victim I suggested in my morning update yesterday: Natgas was chugging along inside a very narrowly compressed Bollinger and I was looking for a ST entry. Today’s NLBL got me in near 4.5 – my stop is below 4.3. Now I don’t have a dog in this fight and fully expect to be stopped out. But on the off chance she’s able to bust above that 100-hour SMA on Monday we should be golden.

Two more futures setups looming below for my intrepid subs – please join me in the lair:


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.

And that’ll be it for this week – it’s been a wild one but if you paid attention and stuck to the script I’m sure you came out on top. And now it’s time to kick back a little and reach for your favorite malt beverage – I’m sure by now y’all know my favorite poison:

There you go – a group picture – how nice! I think I’ll try to cover that in sequence over the weekend :-)

Prost!!





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