Winding Down The Week

Today will the last full NYSE session for this week and I’m sure most of you guys are already mentally checked out. I’m glad however we paid attention yesterday as that short term campaign on the equities side paid off very nicely. As I’ve said in the past: the bus moves the fastest once everyone got off.

I don’t expect a repeat of yesterday’s smooth run higher – but the GBP/JPY carry trade correlation is looking positive as of right now. So let’s see what we got:

The NQ has camped sideways and the 25-hr BB is now compression. That hourly NLSL right below in combination with the SMA may be good for a final spike higher but I wouldn’t risk more than 1/2 on it plus the ISL should be nearby (~3880).

Platinum has been riding its 25-hour very nicely over the past few sessions and I am waiting for a touch to grab a few long contracts. The idea is a retest of yesterday’s highs after which I would be out.

CHF/JPY – I’m short here right now with a stop above the NLBL/SMA. The idea here is a last kiss goodbye move. Again, I’m risking less than 1/2R here – easy to get stop run in low volume weeks.

Finally here’s EUR/NOK – I think this is the first time I feature it here. This formation reminds me a bit of what we saw on the equities side yesterday. Long here on a recovery of the 25-hour SMA and Net-Line Buy Level (NLBL). Once positioned my stop would be placed below that diagonal on the chart, i.e. below 8.42.

I’ll probably chime in quickly tomorrow, assuming anyone’s here to watch the half day session.

It’s not too late – learn how to consistently bank coin without news, drama, and all the misinformation. If you are interested in becoming a subscriber then don’t waste time and sign up here. The Zero indicator service also offers access to all Gold posts, so you actually get double the bang for your buck.

Cheers,

Busy Groundhog Day Morning Briefing

Strange thing is happening to me – for the past few months I keep waking up every day and it’s the same tape over and over again. Maybe all that bad karma has finally caught up to me and I’m being punished for all the suffering I have inflicted over the years on the hapless souls who found themselves on the other side of my trades.

Favorite line – deja vu – I don’t think so, but I could check with the kitchen. Now seriously though – equities are bouncing based on who knows what and we’re back right where we’ve been dangling over and over again during the past few weeks:

The hourly Bollinger shows us pretty close to where we should expect a reversal. However, if there’s a breach across the recent highs – let’s say 1886 then this puppy may just muster up the mojo to power higher.

The TF is trailing the spoos but if we see a little drop before a punch higher then we may be able to get a nice entry here on the hourly. Long above 1106.7 with a stop below both ST SMAs.

We have a TON of setups this morning, so let’s get to it. Especially the EUR and Yen pairs are looking delicious this morning. Here’s the EUR/JPY which is a good long above 140.36’2 with a stop below 140.2.

NZD/JPY also a long right here – stop below 87.8 which is below the 25-hour SMA – we may see a retest.

There’s a lot more where that came from – 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!

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

Cheers,

Looking A Bit Iffy There

As Europe is enjoying the last day of a four day Easter weekend I expected a slow session across the front. But there are subtle signs that we may be looking at a short term correction later this week. As I’m still on excessive coding duty with several hours of testing ahead tonight allow me to make this one quick and snappy:

For one we are pushing higher but DVOL is exceeding UVOL on the NYSEL today. On its own I would probably dismiss it for some Easter holiday monkey business.

But there’s also a divergence on the VIX:VXO ratio suggesting that market makers are lifting premiums a little near the money. Could suggest a down day or two.

There is technical context that would support it after all – the best one is on the YM right now near the NLBL at 16,384 – we have been pinned below it thus far. The spoos are looking similar but we have a few more ticks until we reach the NLBL on that chart. I think a long breach on the YM would probably negate the concerns mentioned above – definitely would have to go with price.

Wheat update – if you took that one then you’re over 1R in the green at this point – congrats! Put your stop at 670/75 and keep her in the running – unless of course we close above it today, in which case the campaign ends.

Crude is looking pretty good here as we’ve got an NR4 (narrowest range in four days), an IP, and an RTV-S. So pick your poison. Admittedly a long here would be my favorite as the downside potential appears to be limited.


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.

Cheers,





    Zero Indicator


    Darth Mole Alerts

  1. poll

    • What is your average spread on the EUR/USD?



      view results

      Loading ... Loading ...


  2. search warrant


  3. recent misdeeds

    1. Scottish Quadruple Witching Alibaba Friday
    2. Friday Morning Briefing
    3. Knocking On Heaven’s Door (Again)
    4. Post FOMC Madness Update
    5. Back With A Vengeance!
    6. A rare but good long setup in equities
    7. This Market Sucks Update
    8. The Other Shoe Just Dropped
    9. The Long Con
    10. Sitting Pretty




  4. yes we can!



    NinjaTrader
    Kinetick