Setups Setups Setups!

It’s going to be a busy morning as setups are crawling out of the woodworks and everything must go! On the equities side further weakness overnight has brought us to the first real hurdle:

2015-07-22_spoos_briefing

That daily Net-Line Sell Level at 2102.75 is one of three that should start slowing momentum a bit. If we manage to push above 2106.75 then I’ll grab a few long positions with a stop below the recent spike low (wherever that’ll be).

2015-07-22_ZN_briefing

Bonds – I got kicked out of ZB the other day by just a few ticks which was highly annoying but it happens in the best families. The hourly NLBL breach here on the 10-year contract was good enough reason for me to try another stab at this. Conservative stop below the 100-hour SMa.

2015-07-22_AUDJPY_briefing

AUD/JPY – what’s to be said here – long of course with a stop a few pips below the 100-hour BB.

2015-07-22_EURCAD_update

EUR/CAD update – unlike ZN that one stuck with the script and I’m moving my stop to 1.414 now. You may recall that I am waiting for it to switch into trend mode. We are close but not there just yet.

We’re just getting warmed up – more setups below the fold:


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Decent participation here in recent days, given that it’s mid summer and all – keep it up steel rats!

Cheers,

cheesy

Dr. Seuss’ Worst Nightmare

I’m not one to brag but when it comes to enduring extended periods of crappy tape the market Mole has grown to be rather resilient over the years. But the spasmodic gyrations we had to endure of the past six months or so has put things on whole new level. I think the last time I saw random swings even remotely resembling this mess was in 2010 and that was not a happy trading year for many. Even when I back test various strategies that year is usually one that ends up on the flat or negative side.

2015-06-03_spoos_update2

I’ve watched several of you guys trying to make sense of this woodchipper and I implore you to just let it go. There is simply too much noise and confusion out there –  it’s our inherent human nature which insists on attempting to see patterns where there are none. If you draw enough lines and squiggly things you will convince yourself that you’ll see a distinct formation. I happen to be long since ES 2113 which I grabbed on a dip lower this morning – my stop still stands below 2007. But frankly I don’t really care – as I said a week or two ago: the less credence/time I give this POS tape the better I’ll be for it.

2015-06-03_gold_update

And equity futures aren’t the only culprits – just look at what gold has put us through. Not even CrazyIvan is liking this and it eats spasmodic gyrations for breakfast. You have been warned – just stay away for now.

2015-06-03_GBPUSD_update

Cable update – still in this one but I have moved my stop up to the recent spike low. I do like the general concept here and I’m going to hold it. But either this one gets out of the gate now or not.

2015-06-03_AUDJPY_setup

We’ve seen quite a bit of movement on the Forex side however. AUD/JPY at an inflection point – either it’ll start correcting here or it’ll swing that upper BB to the upside. I’m currently long with a stop near 96.55 – below that I’ll flip for a short. 1/2R sizes only – way too much volatility out there right now.


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Cheers,

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,




    Zero Indicator


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