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.


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

Cheers,

Painful Ping Pong

I’m not exactly enjoying the current market phase and most likely neither are you. The painful ping pong we are forced to endure for the past few sessions is to some degree courtesy of the Dollar needing to correct. However there’s an apparent lack of sellers since Draghi’s recent jawboning has confirmed the perception of the ECB as remaining dovish. So I guess we’ll gyrate around sideways for a while.

2014-11-17_dollar_update

Just looking at the action of the past week is making me nauseous – clearly this is not a good time to be trading Forex. So I suggest we don’t force the issue and wait until this thing plays out. The Santa Rally is nigh – we can be patient and we all have been through worse.

2014-11-17_spoos_update

Similar situation on the equities side and I would suggest the same here. I did propose an experimental inside day period entry on the spoos last Friday and that blew up in our face. I did take a short (as I’m still long) but have little appetite for adding positions here (13R is enough – even for this manic market megalomaniac).

2014-11-17_natgas_update

Update on natgas – grabbed 1/2R here last week and we’re off to the races. That’s quite a jump higher and it’s why I only recommended half a unit here – no wonder we call it the widow maker. I’m not going to touch this campaign until it either banks me 2R or my stop at break/even is being touched. If she really picks up the pace I may extend my target – I’ll keep you posted.

I have two juicy setups waiting in the bullpen but need to keep those for my intrepid subs:


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Cheers,

Come To Daddy!

Bad news across the board coming out of Europe and the big news of the day is that Draghi is officially stepping into the shoes of the old Bernank. Meaning he’s got this and no bankster crony shall be left behind. Hey, far be it from me to complain – we’re all smiles at our Mediterranean lair. The Euro has dropped below 1.24 and the ATM around the corner has become my new best friend. Gotta get it while the getting is good.

2014-11-06_EURUSD_LT

Now that said – the EUR may be far from finding support. Frankly I don’t see anything stopping the slide at this point and I caution you against looking for a floor right now. The next best support on the monthly is near 1.2 where we’ve got the 100-month Bollinger. That’s right – come to daddy!!!

Obviously if that happens it’ll transpire over weeks, perhaps months. Also remember that a bounce can happen here at any time since the whole story is heavily politicized. But technically speaking don’t be a hero and try to step under a falling sword right now. Currencies have a tendency to trend far beyond your limited imagination. There are easier victims out there – always – just be patient.

2014-11-06_zero

Nothing much to add to the situation over in equities. My longs are doing fine and you know what needs to happen next – either we shoot higher here or we’ll heading into a medium term correction. Right now they’re just screwing around. Not a good time to be a member of the weak hand club right now as this is exactly the type of honeypot setup that fakes you out three ways until Sunday. Check out the signal on the Zero indicator. No. Participation. Whatsoever. Typical honeypot tape.

2014-11-06_crude_setup

Crude is in an pretty juicy spot right now – short term we have an opportunity to be short until it goes out of fashion around 78.6. I recommend a an entry here below the hourly NLBL at 78.34 – plus minus a few ticks. IF stopped out I will most definitely drop back in with a long position with the expectation of a jump higher toward the 25-day SMA which also coincides with the upper Bollinger on the hourly right now.

That’s all I got for today – see you guys tomorrow!

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Cheers,




    Zero Indicator


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    1. The Slow Walk-Down
    2. It Keeps Going And Going And….
    3. The Bots Are Back!
    4. An Impending Trend Shift?
    5. Fade The Noise – Play The Game
    6. Tuesday Morning Briefing
    7. Painful Ping Pong
    8. Volatility Tales
    9. Rational Ambivalence
    10. Thursday Morning Briefing