Heavy Metal Friday

The Eurogroup meeting is starting in a few minutes and I hope that it won’t blow too many of my setups out of the water. I’m already seeing a lot of talk of why Draghi may jawbone the Euro down, which is why I’m glad that I made several runs to the ATM over the past few days (meaning a short squeeze may be coming).

2015-08-14_gold_briefing

Anyway it looks like it’s going to be a heavy metal Friday folks! Gold is back down for a bit of mean reversion and I’m liking it long here.

2015-08-14_silver_briefing

Similarly silver may be a long here – I’m taking out a teeny weeny position with a stop below 15.250.

2015-08-14_EURUSD_briefing

So yes, the Euro may drop lower today but in general I think the Forex specs are trying to call Draghi’s bluff. I am short a small position but expect to be long here at the 100-hour SMA or 1.118 – whatever touches first.

But we’re just getting warmed up. I’ve dug up the motherlode on the Forex side this morning – and I got futures goodies as well. Please meet me in the lair for more:


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Having discovered Days Of Jupiter just two days ago I’ve become absolutely nuts about these guys. Don’t remember being so excited about a band in a very long time. If you feel similarly then help pass on the word – let’s promote those hard rocking Swedes!

Cheers,

Bonds Reloaded

Looks like we may get another opportunity to dip into some bond action. If at first you don’t succeed try try again. In general I’m seeing very nice price action on the futures side today, so let’s get to it:

2015-08-06_ZF_briefing

The five year continues to coil up and as it’s near a rough rising diagonal I’m playing an hourly Net-Line Buy Level to the upside. Stop below 119 – 1/2R only as the tape is highly volatile.

2015-08-06_ZN_briefing

The other half goes to the ten year bond futures – that keeps gyrating its way higher and seems due for the next leg higher. I am open to the downside here as well but do not like the context below, which tells me that any drop lower will most likely be fast and short lived.

2015-08-06_gold_briefing

Gold still continuing lower and I’m currently long 1/2R but am expecting to flip on a stop out.

More below the fold for my intrepid subs:


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You have been briefed – now have fun but keep it frosty.

Cheers,

bond_reloaded

Dangling By A Thread

Once again we are trading near bearish territory but I don’t mean to attach any directional bias via this post’s title. We all have seen major support come and go many times over the past few years. In most cases they served as great opportunities for the bulls to BTFD. Now clearly market conditions are shifting and the bearish case has been gaining a lot of credence over the past few months. However short of having a crystal ball the best we can do is to position ourselves appropriately near important inflection points and monitor the tape carefully for early clues. But have no fear – the Mole is on the case, as usual.

2015-07-28_spoos_briefing

We are actually enjoying quite a bit of context right now and I plan to take full advantage of that. The spoos are now testing a weekly NLSL near 2063 and thus far it’s holding. Should we close the week below it then the trend will most likely switch to the downside. So this will be a key week and that’s exciting!

I’ve moved my trailing stop covering my remaining shorts near the 100-hour SMA. May be a bit tight but unfortunately there’s no NLBL or old NLSL to bolster resistance. Sometimes you just have to make due with what you got.

2015-07-28_NQ_briefing

The NQ thus far the strongest of the bunch and here our inflection point is 4550 – above it we are pretty much in bullish territory. Below it we may be testing the 100-day SMA but there’s a LOT of support to still be taken out – so call me skeptical.

2015-07-28_YM_briefing

The YM clearly is the most bearish index here and after scaring the children a little we bounced higher here overnight. Which however does establish 17319 as our bearish inflection point. If the YM goes then the ES and NQ may follow suit.

In general seeing such discrepancy between the three horsemen are not the hallmarks of a healthy equities market. Which is why I am considering the bearish case at this point – but I’m most definitely respecting all that support that still lays below us.

2015-07-28_ZB_briefing

Bonds – the 30 year now in shake out mode and I think it’s a plausible buy near 154 – if we get that low.

2015-07-28_EURCAD_briefing

EUR/CAD – also correcting and that would be expected after that first stab higher. Nice entry opportunity IMNSHO near the 100-hour SMA which is strongly rising now.

You want more? Then pay up and join the club – freebie mongers only get to see the tip of the iceberg.


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.

That ought to keep you guys busy for a while. Have fun but keep it frosty – don’t get over exposed, which means split your exposure between correlated symbols.

Cheers,




    Zero Indicator


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