Thar She Blows!

Is it true? Could it be? Someone please pinch me because it looks like we may just have departed this dreaded trading range which has been the source of much stagnation and whipsaw as of late. Well, let’s not jinx it – shall we? The session still has another hour to go and we haven’t really punched into fifth gear just yet.

2015-04-23_spoos_update

Here are the E-Mini S&P futures – a.k.a. the spoos (technically that’s the big contract but anyway) – nice punch higher here when most of us expected another trip to the downside. Yes yes, hindsight is 20/20 – ain’t it? Which is why I suggest you don’t beat yourself up and remember – it’s much better wishing to be in a trade than wishing to be out of one.

2015-04-23_YM_update

Thor actually grabbed a long here last night – I only took 1/2R as I’m a highly suspicious here. Plus YM is lagging the spoos it seems but hey, let’s see how she flows.

2015-04-23_cable_update

Cable update from this morning – so far so good and we’ve got a decent chance to breach that daily NLBL. Next hurdle would be the 100-day SMA but let’s address that if/when we get there.

2015-04-23_CADJPY_update

CAD/JPY – one of my favorite charts in my roster right now. We took an early entry yesterday and the actual IP long trigger was a few ticks higher. Which ever you took – so far it’s looking fine but we can’t rule a retest of the 100-day SMA, which is still falling, let’s not forget that. So we are far from being out of the woods here.

2015-04-23_crude_update

Crude – definitely out of the woods on that one. My trailing stop was never threatened and I’m keeping it here as I don’t want to be swiped in case we see a stop run lower before she blows. If it manages to pass 59 we are entering short squeeze territory – wouldn’t that be a shame… ;-)

2015-04-23_ZB_update

Bonds – no setup here, just a general observation. I’m actually short ZB via Thor and it’s looking good but has not locked in the 2R mark just yet. IMO this thing either falls apart right here or we’ll see another trip higher.

I’ve got some setups but will reserve them for my intrepid subs:


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Cheers,

Thursday Morning Briefing

The volatile market conditions over the past two weeks have greatly diminished by appetite for taking short term setups. What we have seen especially on the Forex side borders the spasmodic and the more difficult/random the conditions the less I participate. No sense in forcing the issue as it’s not a matter of skill or experience. After all you wouldn’t take off in a Piper in the midst of a hailstorm either, right? So let’s apply the same common sense to navigating the tape.

2015-04-23_AUDJPY_briefing

AUD/JPY – I looked at this chart for quite a while after it caught my initial attention. What I like on a short term basis is that it’s not too busy blasting off in the opposite direction out of the blue. The daily context is mixed in that we’ve been trapped in a pretty nasty sideways range for over a month now – very much representative of the current  market conditions. I am long here 1/4R with a stop below 92.45 for the off chance that it manages to break above that daily NLBL at 93.03.


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Cheers,

Told You

Alright now put down your mobile phone and try to pay attention for more than ten seconds.

2015-04-22_zero

This razor bladed chop fest is exactly why I kept telling you guys to stay the [expletive of your choice] out of equities right now. But you wouldn’t listen, would you? Just had to burn a chunk of your ill gotten gains trying to prove that you’re smarter than the market. Which you aren’t – and neither am I – or the next guy for that matter. Perhaps next time you’ll listen?

Because when I say ‘stay out’ – I mean it.

2015-04-22_silver_update

Chart of the day – silver. Really made my day as I snagged a few forex stops. Never be afraid of taking that next entry – but always make sure to plan the trade and trade the plan.


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Cheers,




    Zero Indicator


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    1. Thar She Blows!
    2. Thursday Morning Briefing
    3. Told You
    4. Make That Money
    5. Sideways High Impulsive Tape
    6. Tuesday Morning Briefing
    7. Chop Chop Til You Drop
    8. Monday Morning Briefing
    9. Chasing The Market’s Tail
    10. Still In The Game