Way Too Many Setups!

That’s right – you read that right. Way too many setups today! Germany is leading Portugal 4:0 right now and I would rather be watching the game right now. Sometimes I myself cannot fathom the sacrifices I’m willing to make for you guys. In case you have no idea what I’m talking about – you must be either American or living in a cave. Just so happens the rest of the world is watching the world cup (football) right now – call your Latino friend if you have one, he’ll explain it to you.

So let’s get to it – we have a ton of charts to chew through:

The spoos are attempting a run after scaring the children one more time (as predicted this morning). It’s looking good right now but unless that 100-hour gives way nothing happens.

Here’s the SPX cash – as you can see we already triggered an IP-L – we may also paint a hammer today which would be a good long play. Soylent Orange is still in play but we have to see how forceful the run higher will be – assuming it materializes.

I meant to keep this one for the subs but they’ll be spoiled enough today so here we go. Beautiful double hammer on the YM – good support below in form of the 25-day SMA. I prefer this one instead of the spoos.

Platinum – I must be insane giving this one away. BEAUTIFUL shooting start slash inside day right on top of the 100-day SMA. Also lines up nicely with the recent lows. Amazing setup and not one to be missed.

Okay, one more – we have plenty to spare today: NZD/JPY – RTV-L as well as IP-S. Either way looks peachy.

Quite a bit more below for my intrepid subs:


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Did I promise too much? That ought to keep you guys occupied for a while :-)

4:0 Deutschland gegen Portugal. Vielen Dank Hummels und Müller, gut gemacht Jungs!!

Cheers,

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.

So the GBP/JPY is painting a pretty distinct divergence right now. Not a reason to grab long positions but it’s an early warning sign that we may see a bounce today.

The conditions are favorable for a dead cat bounce at least – here’s the hourly SPX cash. As you can see it’s managed to hold the 100-hour SMA as I previously suggested. The SMA is still rising however and that puts the onus on the bulls to stave off further selling. Even if we see a push higher today however there is still the possibility for it turning into a dead cat bounce. We’ll have to closely monitor the internals today – so keep an eye on the Zero Lite for divergences and early signs of monkey business.

Here’s the hourly spoos in the context of my BBs – we’re somewhere in the mid of nowhere right now. What’s interesting is the tentative rising diagonal it’s producing. We may see a quick stab lower near the open to scare out some of the children – I don’t think the bulls are in real trouble until below ES 1916.

But we have work to do this morning, so let’s get rolling. Here’s crude which looks like a good buy above 107.39. Stop below 107 – and I mean below, don’t tack it right there.

EUR/CAD – attempt to paint a floor and although we may see a retest of that NLSL I want to be long above that 100-hour SMA.

If you weren’t a sub last week then you may be experiencing a pounding pressure in your cranium. May I suggest a dose of Excedrin – Oberyn Martell strongly recommends it. Less invasive (home-grown organic) treatment available below the fold:


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Cheers,

P.S.: No skulls were crushed during the production of this post.

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:


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Cheers,





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