Friday 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.

2015-03-06_spoos_briefing

So far so good – the E-Mini has advanced to exactly where I wanted it and I grabbed a handful of lottery tickets right below my inflection point at 2103. My stop is at 2104 and change – above that we are back in limbo tape until about ES 2111, at which point I am going to re-evaluate the situation. See the stack of daily NLBLs up there which should be good for at least some short term resistance.

For the record – no time like the present on this one. We have been here many times and the bears lost almost every single one of these setups since 2009. So this either works itself out right here near the open or we’ll most likely hop the fence and head higher. Which is fine for me actually – I don’t like drawn out entries which is why I prefer to get positioned near inflection points.

2015-03-06_ZB_briefing

ZN is looking like a possible long here with a stop below 127’00. Early days here and it may actually just paint a LKGB before dropping lower. So have no compunctions about grabbing short positions below 127.

That’s it for now – see you guys later this afternoon.

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Selling The Bounces

That was a pretty spectacular failure over in equities during today’s highs. This really should have caught on and exploded higher but it seems like we’re just seeing more distribution at each bounce. Ergo I’m selling every new spike higher at this point and here’s why:

2015-03-05_zero

Check out the zero signal – it’s measly and there’s no participation. The hourly Zero is starting to point down and downer but for right now we’re stuck in limbo.

2015-03-05_spoos_bounce

So this is what we’re going to do – accumulate short positions right below that 100-hour SMA – NOT down here at 2098. I want to at least see a bounce toward 2100 or better. 2103 is my line in the sand – we must not breach it or the bearish case goes out of the window.

Not a bad spot to get positioned if you ask me – small range and the tape is gyrating in and out of selling zones. Act accordingly and follow the plan. We are talking small risk in return for high potential gain. Damn it – VIX is still relatively low at 14 – buy some cheap puts and forget about them. Alright, I’ll dig around a little more and let you guys know if I see anything juicy.

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,

Short Term Entry Opportunity

This is an Evil Speculator Entry Alert – meaning we have a limited time to get exposed as price is hanging in the balance near an important inflection point. Yesterday night I was talking about lower highs and lower lows – that pattern seems to be in the process of being broken:

2015-03-05_spoos_briefing

That hourly NLBL at 2099 is up for grabs right now and I want to be long in about a minute or two when it finalizes – hopefully above it. My stop will be below 2096 – if stopped out I’ll be short with a stop above 2099 – easy peasy lemon squeezy.

I’ll keep digging around for more ST setups but wanted to set this one off as quickly as possible as it’s time sensitive.

UPDATE 1: Alright guys – I did dig up something very juicy on the futures front, please step into the lair:


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UPDATE 2: Okay, here’s a little freebie for you leeches:

2015-03-05_ZS_briefing

Soybeans – long above that hourly NLBL at 997.5 – stop below that 25-day SMA.

Alright, we got a bit of event risk in a few minutes:

2015-03-05_event

I hope Draghi pulls out all the stops – I need that Euro at m…ing par!

american-pride-eagle

Great time to be an American! That’s right, you guys were just born there – the Mole had to EARN it! ;-)

Cheers,




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    1. Friday Morning Briefing
    2. Selling The Bounces
    3. Short Term Entry Opportunity
    4. Lower Highs And Lower Lows
    5. Wednesday Morning Briefing
    6. We Got Movement
    7. Tuesday Morning Briefing
    8. Setups Deluxe
    9. Thor Back Tested Past Five Years
    10. Long Term Equities Update