The Bulls Are Back On Notice

Just this morning I was hoping for some movement, but this may be a bit more than we bargained for. Right after the open the red candles started to stack up and at 10:15am EDT our trend day alert suggested the moderate possibility of a downtrend day. Yeah, no kiddin’!

2015-05-26_zero

The Zero shows us several strong signal swings to the downside. This is real selling pressure folks and all dip buying attempts (quick spikes up above the zero mark) thus far have failed. This could easily continue into the close.

2015-05-26_spoos_update

Boy, this is one ugly chart – several bearish signals triggered today: First up the NLBL at 2134 was never even touched, then the NLSL at 2113.25 was sliced through like a hot knife through butter. We also are failing a weekly NLBL that we have been testing since last week. We are now back to accumulating bearish evidence – yes, again.

I told you guys LT market tops are tedious – no way to predict when it finally turns and until it happens you have to remain nimble. I’m sure you’re glad now that you listened! You’re most welcome – the Mole’s got you covered as always. In any case, today’s plunge certainly goes on the books as significant technical damage.

2015-05-26_SPX_PnF

The point and figure chart brilliantly visualizes the ongoing market conditions – noting but sideways congestion since late last year. Every sudden drop to the downside has been mechanically bought again thus far – but there will come the time when this game will finally find its maker. In any case – take note that we are triggering a high pole reversal warning today. And that means the bulls are officially on notice. If we drop through 2090 there will be hell to pay.

2015-05-26_AUDJPY_setup

It’s always difficult to find entries when things are moving fast but I was able to dig up a few victims. On the Forex side we have the AUD/JPY which is painting a shooting star today. However it’s happening right on top of the 25-day SMA and if we can hold it then we may just trigger a failed shooting star long (I wrote hammer on the chart – sorry). I’m actually taking an early long position here – 1/2R – with a stop below 94.903. If it breaches the daily NLBL at 95.755 then I’ll add another 1/2R.


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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.

2015-05-20_spoos_briefing

Nice activity this morning which presents us with nice entry opportunities. Time to get busy! Here are the spoos which have descended a bit over night and are now approaching the 100-hour SMA. I think a long near 2121.75 with a stop below 2120 has merit. If that one goes then we probably drop to 2113.25 or lower.

2015-05-20_NQ_briefing

Similar pattern on the NQ and you can spread your exposure between those two.

2015-05-20_EURUSD_briefing

EUR/USD – liking the sell off at the ATM but from a trading perspective we are approaching the last line of defense which IMO is the 25-day SMA near 1.10862. I’m trying a long if we breach 1.11.51 with a stop still to be determined – need to see the next spike low or NLSL.

2015-05-20_gold_briefing

Gold – long near the 25-hour with a stop below 1202.7. That was quite a slap down! Let’s see if it can recover or if we’re back in sideways mode. FWIW – boy the June contract has been a crap period for traders.

Quite a bit more waiting below the fold – please meet me in the lair:


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,

Campaign Updates

I’ve accumulated a good number of positions over the past week and decided to not take on anything more for the day. We still haven’t really taken off across major indices and in line with my adjusted modus operandi of remaining nimble I don’t want to get over exposed. So let’s do a quick run down of some of our recent victims:

2015-05-18_spoos_update

The spoos thus far are looking good to go and I’m moving my stop to 2112 now which is at break/even.

2015-05-18_AUDUSD_update

AUD/USD – that’s a campaign I’ve been holding since last week. It somehow rolled over nail or something as it went completely flat and rolled back to the downside. Stop out at my trailing stop for a humble 1R profit.

2015-05-18_AUDCAD_update

AUD/CAD – boy that was an awesome entry this morning right before it took off like a rocket. Moving my stop to break even and will hold through the RBA minutes in about seven hours.

2015-05-18_EURCAD_update

EUR/CAD – also one from this morning. I say meh here and this one may actually stop out. I love the formation on the daily but it was probably too early to try a long position. I only have 1/3R in this one so I’m holding it.

2015-05-18_EURGBP_update

EUR/GBP – stopped out of this morning’s ST position. The original entry form last week is still good and my stop remains at break even. Not really loving the mojo on this one to be honest but I’m holding it.

2015-05-18_cable_update

Cable – a few more pips to the downside and I’ll be out of that one. I was hoping for a LKGB here but it kept dropping below the 100-hour SMA. Bummer really as this is a great setup and I would take it every single time. Perhaps we’ll get another chance at the daily NLSL further below.

2015-05-18_USDCHF_update

USD/CHF – awesome entry here this morning and I’m moving my stop to break even.

2015-05-18_wheat_update

Wheat – for some reason this one screamed continuation at me this morning. Very few traders would have taken a long after that long candle last week. Great entry and I’m obviously holding it although I’m pretty sure there will be a LKGB retest of the 100-day. Moving my stop to break/even and Bob’s my uncle.

The future is now – so don’t bring a knife to a raygun fight. If you are interested in becoming a Zero subscriber then don’t waste time and sign up here. A Zero subscription comes with full access to all Gold posts, so you actually get double the bang for your buck.

Cheers,




    Zero Indicator


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