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.
As I’m writing this both the YM and the spoos are at a potential resistance point. I usually require three existing touches for a trend line to be valid. We already touched it but have not retraced sufficiently, thus it’s a bit speculative – would prefer a bit more testing here – a NLBL for instance would help.
As [...]
Let me get on record by stating that we’ve got way too many holidays these days – over here in Spain I just suffered through a week of Las Fallas and now I have to put up with both Passover and Eastern! Is there no end in sight? How am I supposed to be manhandling hapless victims on the other side of my trades when they keep throwing yet another holiday at us!
Well, I think the Zero Lite pretty much shows it all – complete flat line. If I still would be listening to a ticker I would have to go and check whether or not the damn thing is plugged in.
In case you wonder – no, I don’t go back that far – hehe – but I [...]
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.
Since most of you guys are taking the week off let’s make this quick and painful. The spoos are sitting at the 100-hour and could swing either way. However it’s the most bullish looking of the trifecta right now:
In my book the YM is already a short and maybe painting a last kiss goodbye.
Similar idea on the NQ [...]
I think it’s once again time for an intervention. I’m seeing a lot of complaining about the tape here and quite frankly to me it’s a bit of a head scratcher as there are tons of great setups out there. It’s possible you may not be seeing the forest for all the trees!
And you don’t even have to look for setups yourselves, mind you – the Mole dishes them out every single morning. For mysterious reasons however I don’t see any pertinent commentary and it’s rather clear to me that only a minority of you guys are participating. To busy contemplating the Cyprus drama? I certainly hope not. Well, I just opened up this morning’s [...]