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April Fools Day Morning Briefing
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April Fools Day Morning Briefing

April Fools Day Morning Briefing

by The MoleApril 1, 2014

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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About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
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