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.


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,

First The Ramp Then The Camp

This morning I mused that we may be heading into a sideways camp session following yesterday’s ramp off the lows. Seems like that’s just what we’re getting as today’s range thus far has been contained in about 10 handles.

2015-04-07_spoos_update

I mean how much boring can it get? IMO this either resolves higher by the Wednesday close or we’re probably in for more sideways fun. Nothing to do or to think about here – keep your stops wherever they may be and let’s move on…

2015-04-07_crude_update

Update on this morning’s most excellent crude entry. As you recall I went short first and was already set to flip for a long on stop out. Which I’m glad I had set as I wouldn’t have been able to flip quickly enough. This is starting to look pretty awesome and if it pops its head over the 100-day SMA we may have grabbed a perfect seat on a speeding bus.

2015-04-07_ZB_update

Update on bond campaign – what can I say, another PERFECT entry this morning. It’s a bummer so many of you guys are snoozing on those early morning entries. Same to me though – as the old saying goes: it’s lonely at the top (for a reason). If it keeps this up I’ll convert it to a daily campaign above the 100-hour SMA. Will keep you guys posted.

Yep, just a few days back from vacation and the mighty Mole is already trading the house down :-)

2015-04-07_USDCAD_setup

Possible setup on USD/CAD – I’m grabbing a long here. Let’s see if it wants to do another round in the hamster wheel.

More goodies below the fold:


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,

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.

2015-04-07_spoos_briefing

The spoos have held their ground overnight and if that hourly NLBL holds up until the open we may be primed for at least a ramp and camp session (the ramp having happened yesterday). Anyway, thus far it’s looking solid but at minimum we have to hold ES 2070 (the 25-day SMA)  moving forward. Failure to do so won’t squander the bullish potential here but we may remain trapped in a sideways formation. Not a great way to spend spring, especially after we already have remained range based for most of the year.

2015-04-07_USDJPY_update

Update on our USD/JPY campaign which is progressing quite nicely. I’m moving my stop to the 100-hour now as I’m converting it officially into a daily campaign. If it manages to breach the 25-day SMA it may have enough mojo for a rocket move higher.

Hello Major Tom – are you receiving??

2015-04-07_ZB_briefing

Bonds – looking good here and I’m attempting a small (1/2R) long with a stop below the recent spike low at 163.26.

2015-04-07_GBPUSD_briefing

GBP/USD – something grabbed my attention here this morning. It’s looking like it’s primed for a drop lower but IF (and only IF) it manages to bust above 1.491 I plan to take out a small (1/2R or less) long position.

More short term setups below the fold:


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.

Alright that should keep you guys busy. See you guys later this afternoon.

2015-04-07_wwa

Before I go I would like to present this year’s Wacky Weed Award to Ivan Krastins who just dropped by this morning and thus proved utter invincibility in the face of a category 5 typhoon or however they label their massive storms down under. Well done Ivan – we are glad you are well and hope you will bestow us with many more years of cryptic contributions ;-)

By the way – buy his book or something – he needs to rebuild is straw hut in Vanuatu and chase out the crabs. Or donate here to help rebuild the island.

Cheers,




    Zero Indicator


    Darth Mole Alerts

  1. poll

    • How many discretionary trades to you place per month?



      view results

      Loading ... Loading ...


  2. NinjaTrader
    Kinetick

    search warrant



  3. recent misdeeds

    1. Monday Morning Briefing
    2. Fixing The Flaws In Fixed Fractional Position Sizing
    3. Thursday Road Map
    4. Volatility Wave Surfing
    5. Dangling By A Thread
    6. Paying Attention Pays Off
    7. Sell Off Thursday Wrap Up
    8. Pay Attention Now
    9. Setups Setups Setups!
    10. I’m Your Huckleberry