Furious And Furious Friday

We got movement people! And obviously I’m not talking about equities where we’re still spasmodically bouncing around in the same six month trading range. Booooring! Unless of course you are the evil lair’s official Swing Slayer and that coveted title is already taken by Skynard. You will have to defeat him first and then send me one of his digits to assume his position. It also helps if you either have at least one dragon or an army of White Walkers at your disposal. Either that or just send me money – I am surprisingly corruptible.

2015-06-26_spoos_briefing

Okay, let’s get the tedious charts out of the way first. Equities – I’m risking a tiny long position if it touches 2095 with a stop below 2090.

2015-06-26_ZL_update

Alright so I was talking about movement, remember? Plenty of that across the softs in recent days (i.e. corn, soy, wheat, etc.) – you guys really need to get yourself some futures accounts. Speaking of which, do you still remember the soybean diet I pimped the other day? Soybean oil has advanced beautifully and I’m now putting my stop below a recent spike low. I think that one has potential to go all the way.

2015-06-26_soybeans_update

On the actual soybeans contract it’s time to head for the hills after a beautiful stab higher. Sure it could push even further but my target has been hit and that’s that. I’ll keep an eye on it however for new entry opportunities – preferably after a little shake out.

2015-06-26_GBPCAD_briefing_leeches

GBPCAD – fascinating formation on the daily – rarely seen anything like that on the forex side. I’m happy to play the swings here just for fun but I reckon that it’ll be ready to pick a direction early next week. Be careful usually you’ll see a fake breach first – if you are really good at this game then you can try to play the fake breach with an inverse position. Paging Skynard the Swing Slayer!


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You have been briefed – now have fun but keep it frosty. If there’s anything interesting to share (and if I see you guys actually showing up – I know it’s summer… yuk) then I’ll see you guys later this afternoon.

Cheers,

Wait For VWAP!

A few of the hardcore rats and yours evil truly watched the Zero like a hawk this morning and thus managed to squeeze in a few longs near 2076. I take it most of you guys weren’t that adventurous (and most aren’t Zero subs) so here’s your next best chance to grab some long exposure:

2015-06-09_zero

Alright, here’s the script on how to play this: First you most definitely wait for a VWAP retest. Don’t chase it and wait until you see the white in their eyes. Most likely they’ll have some fun with it and attempt to scare the children a little with dip below VWAP. If you see price recover there or kind of hang around until near the end of the session, then a handful of long exposure may be good medicine.

BTW, this entry is by no means guaranteed. The bulls will have to run hard here in order to avoid a slip off the proverbial plate. We’ve seen an accumulation of quite a bit of technical damage over the past few months. That said – IF there will be a bounce then the odds here are as good as they’ll be for a long while.

2015-06-09_EURJPY_update

EUR/JPY update – I grabbed some adventurous longs near the 100-hour SMA yesterday and so far it’s looking very productive. Today we got a retest of my original entry but it seems to be holding.

2015-06-09_gold_setup

Gold – awesome awesome long term entry here today and I can’t believe I’m giving this one away. I’m long right now with a stop at 1174. Below that I’ll be short as I consider that its current Maginot line.

Two more juicy ones below the fold – subs only:


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It’s now 2:44pm Eastern and it doesn’t seem like you guys are going to get your VWAP test before the close. Which is why I post a morning update! Make sure you catch it next time! Hope to see you in the morning 😉

UPDATE 4:30pm Eastern: Looks like I was dead wrong about not getting the VWAP test. May actually die in its cradle right here. Well, let’s see what the close brings….

Cheers,

The Big Furball

Equities have clearly been one big nasty furball over the past few weeks. You remember me writing about this weeks ago already and with the exception of one quick fake out higher we have reversed back into sideways shake out territory. Tough going here but to me it seems like we are either witnessing massive accumulation or distribution over the past few weeks. I’ve touched on that about a month ago and the fact that conditions have remained since then tells me that whatever comes next is going to be significant.

2015-06-02_spoos_briefing

Which means my modus operandi has been one of taking calculated risks near potential inflection points. On the E-Mini we are sloping lower slowly but seem to be jumping higher occasionally to shake out as many participants as possible. And that means I cannot enter here – neither long nor short. Well perhaps long if we were near the recent spike low. But I’ve got a much better entry and I’m posting it for the subs below.

2015-06-02_gold_briefing

Gold is very juicy here – I’m grabbing a long with a stop below the NLSL which also happens to be near that diagonal I drew. Clearly a short position below this is a possibility but tough going – those daily NLSLs  (right panel) won’t give way easily.

2015-06-02_GBPCAD_briefing

GBP/CAD – very nice context developing but so far no resolution. I’m long here with a top below 1.898.

2015-06-02_soybeans_update

Soybeans update – nice entry yesterday and I came very close to being stopped out. Moving my stop up to break/even now. If it wants to get going then now is probably the time.

2015-06-02_Natgas_update

I also grabbed natgas yesterday – so far so good but I’m leaving my stop in place as we haven’t moved anywhere yet. But the longer we remain those ST NLBLs the higher the chance for a stab higher. Volatility should set in here in the near future.

2015-06-02_AUDCHF_update

AUD/CHF is also still nibbling on it. Keeping my stop where I left it.


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Cheers,




    Zero Indicator


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