Come To Daddy

Equity futures have been sliding lower all night and at this point it looks like we’re going to revisit the ES 2020 cluster unless we’re seeing some instant buying near the open. As I pointed out yesterday – I’m pretty excited about the fact that we are finally seeing a meaningful correction.

2014-12-09_spoos_briefing

The one problem with a relentless advance devoid of minor corrections is that you won’t find any technical context once the tape gets to the point of correcting to the downside. As the saying goes – nothing in life is free. So I’m pretty cautious about suggesting support levels here – the next possible candidate is the ES 2020 mark, and if that doesn’t hold we’re talking about a more serious wipe out. But let’s not get ahead of ourselves.

come_to_daddy

In the end it’s always about controlling and and leveraging fear – the former relates to your own fear and the latter to that of others. Obviously the continuation of yesterday’s surprise drop lower is a great opportunity to thoroughly trim the fat and produce new buying opportunities. Until however we see clear signs of buying interest (or major support levels are being touched) we should stay on the sidelines and simply observe. Leave the bottom calling to the same people who called one top after the other on the way up. Most importantly – don’t attempt to step underneath a falling sword.

2014-12-09_soybean_briefing

On the short term side soybean futures are looking like a possible play as the 25-hour SMA seems to be offering support. My nefarious plan is to be long here with a stop right underneath the SMA (and two NLSLs).

2014-12-09_crude_breifing

Crude also looking promising here – I know, it’s scary to be thinking about buying down here. But that was a nice push higher and I’m going to throw in 1/2 R here with a stop underneath 63. Let’s see if she bites.

 

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Cheers,

 

Quark’s Busy Wednesday

Courtesy of a raging Dollar (tee-heee!) we’re going to have a very busy morning. So get off fartbook or whatever attention whoring social media sinkhole you’re wasting valuable daylight in, and let’s focus on all those juicy setups that the mighty Mole continues to extract from Mrs. Market.

quark_1474470i

For she’s a raving bitch, but if you know how to sweet talk her and play by the rules she’ll let you run your little schemes behind the curtain. Think Quark on Deep Space Nine – now that’s a smile only a mother can love.

2014-12-03_spoos_briefing

Equities are coiled up and ready to roll, should they choose to do so. The mojo here leaves a lot to be desired and I’m operating with utmost caution. However, given this current candle holds I’m tempted to add another 1/2 R with a stop below those converging SMAs (i.e. ES 2063). If this sucker finally gets going it’ll be a sight to behold. If not then we’re looking at a another leg down – be prepared.

2014-12-03_CL_briefing

Crude – trying to make up its mind – down we go or is it going to be a reversal? Yes m’am! I’m in either way and although I’m short right now Quark assures me that my long entries are waiting near 68.4.

2014-12-03_USDCAD_briefing

USD/CAD – I’m long here as soon as it closes an hourly above 1.14. Stop below a rising 100-hour SMA. Not the worst setup you can take…

But wait there’s more – meet me in the lair:


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2014-12-03_events

By the way, be cautious around 10:00am Eastern as we’re getting the new ISM Non-Manufacturing purchasing managers index (PMI) numbers – always good for a few shake out gyrations.

Today’s Ferengi rule of acquisition:

quark_tiny

Nothing is more important than your health … except for your money.

This ought to keep you rats busy for a while. See you later this afternoon.

Cheers,

Eking Out Some Profits

It’s been some turbulent pre- and then post-holiday tape; but by courtesy of our policy of fading the noise and by choosing our victims carefully we have been able to eke out some profits. Once again I’m seeing a lack of participation in the comment section which suggests that many of you are missing out on ill gotten gains.

TechnoViking

That’s unacceptable for any self respecting steel rat. Don’t make me call the Techno Viking! He’ll sort you out!

2014-12-02_spoos_update

That was some prime rib AAA entry on the spoos this morning. It’s still early to tell if it’ll hold but if you’re in this one then I suggest you hold it, assuming that we close above the 100-hour SMA today.

2014-12-02_AUDNZD_update

AUD/NZD was one of our setups for the subs yesterday. We ventured into this one as the weekly was scraping a pretty established diagonal plus it had peeked outside its lower 100-day Bollinger. Almost a picture perfect entry there near the close of the session and thus far we’re good about 1/2R (since we only played 1/2R). I suggest you move your stop to break/even now.

2014-12-02_EURUSD_setup

The Forex side is bestowing us with two kick ass setups today which both have weekly implications. I can’t believe I’m throwing this one to the wolfs but nobody seems to be trading anyway. Anyway, I’m long here with a stop below 1.2355 BUT what I really want to see is a breach of that mark which may lead us into a slide lower. So this is the play – long right here and anything below the green line is bearish territory.


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.

Bonus Chart:

2014-12-02_zero

The Zero has been producing very nice Mole scalp signals today. However note that the signal range on the Zero Lite today is very small (i.e. < 0.5) – so we are NOT out of the woods just yet here. I think the close will be important which is why it’s a condition of holding on to today’s ST longs.

That’s it for today – now get to work steel rats!

Cheers,




    Zero Indicator


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