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.

2015-04-21_spoos_briefing

Not much to report this morning – the spoos have touched the upper boundary of our current trading range and unless you took that opportunity to get short I recommend you stay out.

2015-04-21_wheat_briefing

If you’re into wheat – it’s looking like a decent long here and I grabbed about 1/4R. If you decide to jump in here bring a bag of patience as this may take its merry time to play out. However those BBs on the hourly are getting mighty compressed, so let’s see what happens here today.


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,

Still In The Game

Boy that was a close shave this morning – one tick lower on the E-Mini this morning and I would be out in the woods right now kicking over trees. Just kidding – you’ve got to take things in stride, even if you get swiped by a tick. For the record – you will always see me put an ISL on my chart with a < sign – which means that you should put your stop BELOW it. In particular you always want to avoid full numbers – except on entry triggers.

2015-04-16_spoos_update

That’s where we are right now – quite a little bear trap this morning, extending all the way down to 2089 – those cheeky bastards! But let’s be honest – I got lucky here as I could have easily have scraped a bid. Better sacrifice a chicken burger to the Market Goddess tonight? And yes, of course it’s a she! ;-)

2015-04-16_spoos_setup

If you are still not exposed after Tuesday’s hammer then today is probably your next best opportunity – and it’s binary. Be long above 2104.75 and short below 2089. The daily context here is really excellent as we’re straddling that upper diagonal on our sideways triangle/wedge.

2015-04-16_CL_update

Here’s crude which has been holding steady – the weekly panel shows us kissing the 25-w SMA and that’s our first theoretical hurdle. Why theoretical? Because it hasn’t been touched in eons – which in itself speaks to the velocity on the way down. It’s still early days and we could easily switch back into shake out mode. But so far so good and my stop is still at break/even.

2015-04-16_ZL_setup

ZL – soybean oil - looking pretty good here straddling the 100-hour SMA and it’s also near the 25-day SMA. I’m going to be long above today’s highs and short below the lows.

More juicy setups waiting below the fold for my intrepid subs:


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.

And that’s all I got for today – keep it up everyone and let’s continue banking coin like bosses :-)

Cheers,

Friday Conundrum

A bit of a surprise seeing equities heading straight back down as I was expecting a more thorough bounce yesterday. Quite fortuitously I didn’t take partial profits, as I would have under normal conditions, plain reason being that I was getting set up over here and simply didn’t have the time. Right now my shorts are flashing green and it’s turning into a very profitable Friday afternoon. Moral of the story – better to be lucky than good ;-)

2015-03-13_spoos_update

So let’s take stock of where we are and where we may be heading. This is what I would call a veritable Friday conundrum. The triptych E-Mini panel shows us right at a daily and weekly inflection point where we bounced yesterday. Below ES 2032 we are at risk of descending lower toward the 2k mark and then 1982 at which point we’ll be dancing to Huey Lewis and the News again.

2015-03-13_zero

The Zero is showing us real participation today (to the downside) but it’s flattening out a little there toward the end. I think we need to see wait out the close for some possible late session hits. However it’s not unusual to see selling pressure abate a little if the first part of the day has been leading down.

2015-03-13_VXV_VIX

Just to be on the safe side I caught up with some of my breadth indicators. No sign of divergences on the VXV:VIX ratio.

2015-03-13_VIX_VXO

Ditto on the more short term VIX:VOX – this is where I would expect to see the first signs of attempting to trap shorts.

Bottom Line: I am going to do here right now what I would have done yesterday – take partial profits, but leave the door open for continuation lower starting Sunday night. This is how I always would proceed and after banking quite a bit more than 4R (remember I got in at 2103)  it is more than justified and well within my discretionary campaign rules. I won’t pollute the process by attempting to predict where we head next – major inflection points are often touched just before the weekend and for a reason. There is no way knowing whether or not ‘this is it’ (only Huey knows). Let your system rules guide your actions – not your bias, wishful thinking, or various other emotions that stand in the way of banking profits.

On the setup side we do have a two juicy candidates on the futures side:


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.

I leave you with this - which may become our Monday theme if things play in our favor ;-)

Cheers,




    Zero Indicator


    Darth Mole Alerts

  1. poll

    • How many discretionary trades to you place per month?



      view results

      Loading ... Loading ...


  2. NinjaTrader
    Kinetick

    search warrant



  3. recent misdeeds

    1. Tuesday Morning Briefing
    2. Chop Chop Til You Drop
    3. Monday Morning Briefing
    4. Chasing The Market’s Tail
    5. Still In The Game
    6. Nothing Thursday
    7. Well I’ll Be Damned!
    8. Wednesday Morning Briefing
    9. Bait And Switch Tuesday
    10. Futures Setups Galore