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.

2014-11-24_spoos_briefing

Equities have been holding the line over the weekend and we may see a bit of acceleration here as suggested by DarthMole. Just to reemphasize – unlike retail traders volatility measures do not suffer from directional bias. So there is no telling which way it’ll swing. However I don’t see anything on my charts that would prompt me to deviate from the current course, which is to trail my stop and to not second guess how far this puppy may run.

2014-11-24_USDZAR_briefing

USD/ZAR near its 100-hour SMA and I’m short here with a stop above 11.00. Only 1/2R exposure as there isn’t much supporting context.

2014-11-24_wheat_briefing

Many futures contracts rolled over last Friday and the pickings are slim but wheat is looking rather interesting here as support is starting to stack up. I’m long with a stop below the NLSL at 553.25.

Two more short term setups below the fold:


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You have been briefed – now have fun but keep it frosty. See you guys later this afternoon.

Cheers,

An Impending Trend Shift?

With the exception of equities we have been seeing a pronounced shift in market behavior across the futures as well as in Forex. Once again it drives home the point that one’s approach has to constantly be gauged and if necessary modified in response to shifting market phases. Or in other words - none of your trading strategies/approaches work all the time – the trick is to apply the proper market strategy to each discrete market phase.

2014-11-19_gold_pnf

Gold for instance has been stuck in a pretty uneventful sideways churn for most of the year. Hunting for an trend trades on the precious metals side would have been a total waste of time which is why we barely touched it all year. Just look at the P&F chart above – note that the part covering 2014 is a quarter of the size of that of 2013. Reason being – P&F charts do not track time – they only focus on price, which is why I appreciate them. If there’s no movement then no boxes are added to the chart.

That may however soon change. Gold just painted a low pole reversal warning and that means the bears are officially on notice. And as coincidence would have it we do have a promising setup on the roster today:

2014-11-19_gold_setup

We have a nice hammer formation there on the daily panel – right underneath the 25-day SMA. I would take a breach of today’s highs with a stop below yesterday’s lows (today’s a bit low for my taste). Pretty simple setup but be aware that it’ll most likely try to shake you off. When it comes to precious metals every campaign has to be earned.

2014-11-19_FXE_pnf

The EUR has been among the trending charts this quarter – but until August it had barely painted any boxes on our P&F chart. Then Draghi announced a whole new battalion of printing presses in response to lackluster GDP growth in the EU and the rest is history. I have been enjoying the sell off quite a bit as you can imagine but the downside ride may be over soon as we are but a bagel throw away from producing a low pole reversal as well.

Are We Due For A Trend Shift?

Now if both the EUR and gold turn then it may also mean that equities are due for a much needed correction. Seasonally however that would be an incredibly inopportune time for the bears. Not that the Santa Rally is chiseled in stone but it’s rare to see any significant corrections this late in the season. Not to second guess what may happen next (which is usually out of touch with reality at any rate) I have decided to simply keep my trailing stops where they are and let the chips fall where they may.

That’s all I have for today folks – nothing exciting to report on the setup front. And quite frankly – given the recent gyrations across board I am a bit cautious and when my Spidey sense tingles it’s usually good medicine to remain extra selective when picking entries. See you guys tomorrow.

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Cheers,

Tuesday 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.

2014-11-18_NQ_briefing

Equities still gyrating within their range, however the NQ is looking a bit more gung-ho and I’m grabbing 1/2R right here with a stop below 4203.

2014-11-18_crude_briefing

Crude just breached it’s 100-hour SMA and is back for the obligatory retest – NLSL right underneath – I love these types of setups. Long here with a stop below the 25-hour.


More charts and commentary below for anyone donning a secret decoder ring. If you are interested in becoming a Gold member then don't waste time and sign up here. And if you are a Zero subscriber you get free access to all Gold posts, which gives you double the bang for your buck!

Please login or subscribe here to see the remainder of this post.

You have been briefed – now have fun but keep it frosty. See you guys later this afternoon.

Cheers,




    Zero Indicator


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    1. Monday Morning Briefing
    2. The Slow Walk-Down
    3. It Keeps Going And Going And….
    4. The Bots Are Back!
    5. An Impending Trend Shift?
    6. Fade The Noise – Play The Game
    7. Tuesday Morning Briefing
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