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,

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.

2015-03-03_gold_briefing

Gold dropped hard overnight but then bounced back. If you are short gold right now I recommend that you exit here or move your stop to the b/e point as that series of daily candles is starting to look mighty bullish. In fact I would consider a long position here above 1210.

2015-03-03_AUDNZD_briefing

AUD/NZD – actually the same formation seems to represent itself on most AUD pairs this morning, so pick your poison. Long above the NLBL with a  stop below that recent swing lower.


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2015-03-03_events

We have some event risk coming up – in an about an hour on the CAD and later this evening on the AUD.

Cheers,

Swiss Only Learn The Hard Way

If you just woke up and found your Forex account in flames then let me give you the skinny. The Swiss National Bank finally realized the errors of their currency pegging ways and decided to suddenly throw in the towel. Which of course triggered a massive dislocation across Forex markets as the Swiss Franc surged by 30pc. As I’m typing this the Swiss stock exchange is a sea of red dropping as much as 14%. Well done!

swiss_idiot

Now when I was a young kid traveling in Europe a Swiss train conductor kicked me out of the train in the middle of nowhere somewhere in the hinterlands of rural Italy because I couldn’t afford a pass for the sleep wagons (there were only sleep wagons on that train). Since that day I can’t stand the Swiss and for good reason. They are stubborn as heck and they only learn the hard way. And that’s coming from someone who actually went to Kindergarten there! I hope the SMI gets cut in half you cow tipping alphorn blowing wankers.

2015-01-15_EURUSD_briefing

So let’s observe the damage. Here’s the EUR/USD – dropped toward 1.15 and has recovered a bit of that first wipeout. Word has it that the Swiss will now have to sell a ton of Euros (at massive losses) and that probably means more downside on that front.

2015-01-15_EURCHF_briefing

Is that an ugly chart or what? EUR/CHF – back from whence we came back in 2011 when they screwed with everyone the first time around.

2015-01-15_dollar_briefing

Dollar got kicked in the head and then in the balls. I don’t recommend you pick any direction here at this point – let it settle down.

2015-01-15_spoos_briefing

U.S. equities rather tranquil in comparison. But look at all that volatility over the past few sessions. So far that support cluster appears to be holding however – the onus is now on the bears to take it lower. Today. If they can’t drag this sucker lower on a day like this they’re toast (again).

2015-01-15_gold_briefing

Gold update – jumped higher as should be expected. My entry at 2012 is starting to look solid now.

2015-01-15_crude_briefing

Crude is taking advantage of all the confusion and is trying to make a run for it – the 50 mark is in its sights. This would be a long/buy if it breaks the daily NLBL.

A few juicy setups below the fold – 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,




    Zero Indicator


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