Friday 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.

2015-06-19_spoos_briefing

The spoos are slowly making their way higher and I’m now moving my trailing stop near the 3R mark. So far so good and we just pushed through a daily NLBL at 2106.75 – if we can hold it we may be able to climb higher here. However, I must admit that I remain rather skeptical here – so far every attempt to breach the 25-day BB has failed. So if we get to 2130 I’ll probably cash out – unless I see a LOT of momentum accompanying the advance. Which means I’ll be watching the Zero like a hawk – and so should you.

2015-06-19_silver_briefing

Silver – boy it’s been some tough tape here and it’s not an easy contract to begin with. I’m grabbing a tiny long position here as we’re near reasonable support.

Unfortunately that’s all I got for this morning – both forex and futures are running in circles (major retraces in the works) and I’m laying low until I see signs of life. Catch you guys later in the session.

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Cheers,

Wednesday 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.

2015-06-03_spoos_briefing

Equity future doing their thing again. Boy, that really is one ugly f…ing chart but clearly dip buyers are aggressive in defending those lows. I’m currently waiting for a touch of 2113 so I can grab a long position. Below 2007 I’ll be short again. FWIW – this tug of war really cannot continue forever – the daily SMAs are starting to droop and may point lower soon. Resistance is starting to develop as that diagonal is extending lower. And that means the bulls better punch this higher today or tomorrow or we’ll see new lows.

It’s possible actually this one runs off right now without me/us – which is fine really. We should not be so enamored with equities and there are a ton of other campaigns that are going in our favor right now (an update later today).

2015-06-03_gold_briefing

Gold is one I have had my eyes on as you know. Long here with a stop below 1184. There is excellent daily and weekly context nearby as highlighted. 1/2R only and I’ll add another 1/2 if we push higher from here.


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That’s it for now – including yesterday’s positions I’m pretty loaded up and don’t need any more exposure.

Cheers,

The Big Furball

Equities have clearly been one big nasty furball over the past few weeks. You remember me writing about this weeks ago already and with the exception of one quick fake out higher we have reversed back into sideways shake out territory. Tough going here but to me it seems like we are either witnessing massive accumulation or distribution over the past few weeks. I’ve touched on that about a month ago and the fact that conditions have remained since then tells me that whatever comes next is going to be significant.

2015-06-02_spoos_briefing

Which means my modus operandi has been one of taking calculated risks near potential inflection points. On the E-Mini we are sloping lower slowly but seem to be jumping higher occasionally to shake out as many participants as possible. And that means I cannot enter here – neither long nor short. Well perhaps long if we were near the recent spike low. But I’ve got a much better entry and I’m posting it for the subs below.

2015-06-02_gold_briefing

Gold is very juicy here – I’m grabbing a long with a stop below the NLSL which also happens to be near that diagonal I drew. Clearly a short position below this is a possibility but tough going – those daily NLSLs  (right panel) won’t give way easily.

2015-06-02_GBPCAD_briefing

GBP/CAD – very nice context developing but so far no resolution. I’m long here with a top below 1.898.

2015-06-02_soybeans_update

Soybeans update – nice entry yesterday and I came very close to being stopped out. Moving my stop up to break/even now. If it wants to get going then now is probably the time.

2015-06-02_Natgas_update

I also grabbed natgas yesterday – so far so good but I’m leaving my stop in place as we haven’t moved anywhere yet. But the longer we remain those ST NLBLs the higher the chance for a stab higher. Volatility should set in here in the near future.

2015-06-02_AUDCHF_update

AUD/CHF is also still nibbling on it. Keeping my stop where I left it.


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.

Cheers,




    Zero Indicator


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