Wrapping Up The Month

As usual October has been a pretty capricious month and there wasn’t a dry eye left in the house. Tomorrow will be its last trading session but since Sunday is Halloween I don’t expect much activity. So let’s take a quick look at where we are on some of the most salient charts:

2014-10-30_EURO_monthly

The most ominous chart right now must be the Euro. We finished September near the lower Bollinger and it looks like we will be doing so again. What’s worse most likely it will be a shooting star and a drop below 1.25 may actually lead us toward the 1.2 mark. Frankly that was on my Christmas list last year and it’s about time Santa delivers! For the noobs – I’m a U.S. expat living in Europe – you do the math.

2014-10-30_ES_monthly

Pretty much the inverse situation in equities. This is one of the longest hammer candles I can remember (only challenged by the July 2011 candle) and it has reversed a whole cluster of Net-Line Sell Levels (NLSL). Very very positive and we may be scraping new highs by the end of the year.

2014-10-30_spoos_update

A quick peek at the daily and weekly panels. Nice formation here on the daily (left) side and although we are overdue for a little correction I think we may close the week above the NLBL I highlighted. That would be our first weekly buy signal in a while. With a bit of luck, effort, and some scotch tape we may be ready to roll into Santa season. Frankly a little shake out beforehand would actually be healthy and shake out some of the late comers.

But the best chart today I will have to reserve for my intrepid subs – we are most likely near one of the best monthly buying opportunities of the year:


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Bonus Chart:

2014-10-30_zero

Nice bearish divergence today on the Zero Light.

Cheers,

Getting Paid On Thursday

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.

2014-10-30_spoos_briefing

Equities have dropped a little lower overnight and we’re now testing the 100-hour SMA. If I wasn’t long already in my ongoing campaign I would be here with a stop below ~1958. If supports fails then the next probable scenario is a visit of the lower 100-hour BB which coincides with NLSL at 1944.5.

2014-10-30_spoos_briefing2

Here’s another view at the scenario on the hourly panel – the onus is now on the bulls to keep up the pace or we run the risk of a little correction.

2014-10-30_platinum_profits

Platinum was one of our short setups from last night and it’s been very favorable so far. Time to move your stop to b/e and to take 50% off the table.

2014-10-30_silver_profits

Silver was the second one and here I’m moving my stop to 1.2R and also take 50% off the table. After such a drop odds are we’re going to see a little counter response.

2014-10-30_AUDNZD_setup

My only setup this morning so I’ll throw it out for free – AUD/NZD. Possible buy here at the NLSL with a stop pretty nearby below 1.124 (the rising SMA). Time for this one to get a move on, so I’ll give it three candles or so and if she doesn’t budge I’m out.

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,

RIPQE

Here lies the charred remains of Quantitive Easing – Time Of Death: 2pm October 29th, 2014. May you rest in piece – it’s been fun. The market is now officially on QE cold turkey (just in time for Halloween I may add). So when are they announcing QE4?  Just kidding!

Well, the good news: the Dollar is up and the Euro continues to drop as I’m typing this. Which of course serves this expat just fine. Alright – let’s review the damage, shall we?

2014-10-29_GC_update

Big FAIL on the gold front – it never even had a chance of touching that NLBL on the daily. The weekly appears to be a goner as well. Next target is the weekly NLSL at 1183.3.

2014-10-29_EURUSD_update

The Euro – ouch, that is one ugly chart. Technically we have now established a falling diagonal which should act as resistance on the next bounce. What doesn’t help the Euro’s case is that it just sliced through that daily NLSL as well.

2014-10-29_DX_update

Obviously the inverse on the Dollar front – if you squint you can make out the finger of God on the hourly panel. On the daily we also now established a rising diagonal and it just crushed a NLSL which should not start acting as support. Very nice and a breach of the old highs are now a possibility.

2014-10-29_SPX_update

Equities – actually thus far they’ve been holding up pretty well! I don’t see anything nasty here and my long positions remain in good shape. Nothing to add really – let’s see how we close the week. But this is pretty positive.

A few setups while I have your attention – please step into my 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.

Cheers,




    Zero Indicator


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