Freaky Forex Friday

Seems like most of you rats have finally turned into mindless credit card swipin’ shopping bags draggin’ consumer monkeys. Not the Mole – no sireee – all my Christmas shopping is done in July, when the weather doesn’t suck!

australia_christmas

That’s more like it – pass me the Glühwein!! Alright, less of you means more goodies for me and I’m talking juicy short term setups – especially the Forex side is looking rather festive this morning. And unlike Santa the Mole is dishing it out all year – plus I favor you naughty ones.

2014-12-19_PA_briefing

Palladium – looking good here and I already grabbed a long with a stop below 789. With a bit of mojo perhaps that daily NLSL can be reversed today.

2014-12-19_AUDJP_briefing

AUD/JPY – it’s battling that daily NLBL but is also supported by the rising 25-hour SMA. Got to get out of the gate or it’ll slip lower again. I’m long here with a stop below 97.2.

More below – please step into my lair:


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You have been briefed – now have fun but keep it frosty. Depending on participation I’ll do a follow up post this afternoon.

Cheers,

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,

 

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.

2014-12-05_EURUSD_briefing

After yesterday’s surprise spiker higher the EUR/USD  is still clinging to its 100-hour but may just fall away today. However, if it manages to crawl back above the 100-hour I’ll be long with a stop below the NLBL at 1.237. Short positions are possible here but it’s possible that we’ll just gyrate around directionless for a while, so I’ll give that one a miss.

2014-12-05_ZB_briefing

Bonds – the 30-year is done re-testing the 100-hour (well, barely) and on a push above the NLBL I’ll throw 1/2 R to the bond market wolves. Stop below 141’20.


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.

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

Cheers,




    Zero Indicator


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