We Got Movement

We’re seeing an interesting failure on the equities side today – seems like it took a few people by surprise and so it should! Judging by the participation a large portion of traders has been locked out of the rally and participation continues to wear thin:

2015-03-03_zero

I’ve kept telling people to anticipate a sell off but to remain patient as I have not seen any technical context to hang our hat on. That may be changing now as this stab lower may not hold but will help us establish potential sell opportunities if it heads higher. Quite frankly that signal signature on the hourly Zero looks extremely strange and is starting to reek like distribution.

2015-03-03_spoos_update

The E-Mini isn’t giving us much right now and I wouldn’t chase this move lower.

2015-03-03_NQ_setup

The NQ however is looking juicy on an hourly basis – I’m thinking long 1/2R here if it drops by a handle or so - put your stop below 4430. The context is pretty good above that daily NLSL and it’s worth to BTFD here. However, that said – if stopped out I am grabbing a short position as we may accelerate lower. Also, if it actually continues higher I will be looking for short opportunities – but let’s address that when/if we get there.

2015-03-03_EURCHF_update

EUR/CHF update – this was the only one that triggered and it’s looking positive so far – this is the type of price action we want to see. If it manages to heave itself above 1.077 then move your stop to break/even.

2015-03-03_crude_setup

Alright – we got a nice list of setups today – here’s crude which I want now with a stop below 49.6. Now bear in mind that it’s still in sideways churn mode and it will test your patience. Which however may be rewarded in the near future. When crude starts trending it doesn’t mess around.

2015-03-03_crude_thor

As a side note – crude also seems to be a decent contract for trading Thor – here are the past five years. As you can tell it goes through phases – did very well in 2010 and 2011 and then went sideways throughout 2013 into early 2014. After which it took off like gang busters. There was a pretty lively discussion on the board yesterday on the topic of excluding badly performing symbols. This is an example of where I would not even think about excluding it – there is simply no predicting when it goes back into rocket mode again.

2015-03-03_gold_thor

Gold however has been on a rampage in the past give years, clearly there was less trending potential in the past two years but it seems to be back in vogue now – at least via Thor. Looking forward to seeing more of that in the course of this year.

Alright – more setups below the fold – please step into my lair:


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That’s all I got for today – see you guys on the other side!

Cheers,

Event Risk

The sideways drift I joked about this morning seems to have become the modus operandi of the entire session. And as I started to suspect a few hours in we don’t have to look very far for an explanation:

2015-02-23_events

Quite a heaping platter of event risk we’ve got scheduled for tomorrow and I suggest you guys do like me – which is hunker down and wait it out. Not surprisingly we got very little on the setup front today:

2015-02-23_AUDUSD_setup

AUD/USD may be worth a shot down here as it’s facing a stack of Net-Lines on the daily panel. I’m grabbing 1/4R here with a stop below 0.778. However if it’s not above 0.7814 by tomorrow morning I’ll cut out and run for the hills.

2015-02-23_corn_setup

Corn – another experimental play and I’m applying the same approach. 1/4R right here with a stop below the lower 100-hour BB. Must be at 390 by tomorrow morning or I’m dropping it.

That’s pretty much it for me until tomorrow morning after 10:00am EST – keep it frosty and don’t get caught in the obligatory traps and tribulations preceding event periods. Keep your powder dry and live another day.

It’s not too late – learn how to consistently bank coin without news, drama, and all the misinformation. If you are interested in becoming a subscriber then don’t waste time and sign up here. The Zero indicator service also offers access to all Gold posts, so you actually get double the bang for your buck.

Cheers,

No Prisoners!

Round and round she goes. I think at this point we are way beyond the patient threshold of even the most callous market participants. Fortunately we have movement on the forex front which offers us a much needed reprieve from the eternal gyrations in the equities woodshed.

2015-02-09_spoos_update

I managed to hang on to my E-Mini shorts by a thread – that poke 2051.75 stopped me out but I jumped back in a handle lower with a stop above 2052. Right now we seem to be sliding lower but I’m playing with funny money here so I don’t really care what happens (but I’m still holding SPY lottery tickets from last week).

If we drop lower then I think that 2022.75 is probably going to stand as a first line of support. The lower 100-hour BB awaits there and so is the daily NLSL with the 25-day SMA right above. And if that one gives we still have the 100-day SMA and a daily NLSL at exactly ES 2007. So quite a lot of support waiting below us.

Please don’t take my exposure as any predictive/directional bias – I’m playing the tape as I see it and there is no telling where she’ll swing tomorrow. Mrs. Market is in a shitty mood this month and she ain’t taking any prisoners.

2015-02-09_GBPUSD_setup

But let’s get to the good stuff – forex is looking juicy this afternoon and we’re having ourselves a helping. Here’s cable which I want as a long above 1.5235 – my stop will be below 1.52 and change.

More below the fold – please join 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.

This ought to keep you guys busy for a while – get to work!

Cheers,




    Zero Indicator


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    4. Tuesday Morning Briefing
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    7. Long Term Equities Update
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