I literally have juicy long term setups crawling out of the woodworks today – very exciting and it’s time we’re picking our outfits for the summer season. Let’s start with one popular symbol I was pimping yesterday – for free I may add!
Here’s what I proposed in my Monday update – AAPL was about to reverse its bearish price objective and I was getting very excited about a potential breach of the 430 mark.
And here’s the same chart today donning a double top break out and a preliminary bullish price objective of 545 – yummie yummie! Let’s see what our LT panel has to say about [...]
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 in an interesting spot this morning – the spoos are actually the leastĀ interestingĀ of the bunch as it’s simply tinkering with its 25-hour. Yes, there’s a NLSL as well but the support looming below doesn’t make this a very exciting setup.
The NQ however may have room to run (downward) if all that resistance [...]
I’ve often called AAPL our canary in the coal mine in regards to equities. However, most likely due to unmitigated quantitative easing Apple’s recent fall from grace did not impose the gravitational pull that I had anticipated, at least not thus far. Not that we care anyway as we had a lot of fun riding it from the penthouse all the way to the lower basement. Of course you’re only as good as your last trade so let’s see where it’s heading next:
Over the weekend I showed this P&F to my subs and suggested that the canary may be chirping again soon. Well, it didn’t take long as it’s now sitting at an inflection point on that [...]
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.
Make sure you don’t miss my weekend update – plenty of juicy long term charts are waiting for you there.
USD/JPY is kissing its 25-hour SMA – I’m currently short with a stop above. Long if it closes above – the SMA is falling fast so there should be resolution soon.
EUR/CHF below its 100-hour SMA and two [...]