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:


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You have been briefed – now have fun but keep it frosty. See you guys later this afternoon.

Cheers,

Thursday 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.

2015-01-08_spoos_briefing

Equities have ascended further overnight and our E-Mini campaign is starting to rack up the green. We’re at the 4R mark now and I’ve put my stop slightly below it as I’m trailing it at ~25% MFE. However we are now approaching the first major hurdle as we are only a few ticks away from the 25-day SMA. I do expect some resistance there and if we make it above it we’re good to go for another stab higher. So today should be a rather interesting session.

2015-01-08_NQ_briefing

The NQ just breached its 100-hour SMA and we also have a brand new NLSL at 4,179.5 – that makes for a good bullish/bearish inflection point so stage your positions and stops around that.

Two more Forex setups are waiting below the fold – please 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!

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You have been briefed – now have fun but keep it frosty. See you guys later this afternoon.

Cheers,

The Squeeze Is On!

And as we all suspected – the squeeze in equities is officially on. In a little over a session we went from dangling by a thread near lows to threatening a daily NLBL. Unfortunately it was not a setup we felt comfortable taking. The tell tale signs were there and we reported on them – in particular divergences on the NYSE volume ratios plus a monthly NLSL had been touched and reverted. However Fed announcements are times when I stand aside – I’ve been through this game in 2007/8 a few times and then swore to stick with the easy tape.

2014-12-18_spoos_briefing

I did try some lottery tickets near the very lows but unfortunately got stopped out on that last late day drop on Tuesday. Yes it sucks but that’s how it goes. And you know the saying by now: Better wishing to be in a trade than wishing to be out of one.

Look at that NLBL on the daily panel – if it can be conquered today then the bulls are in much better shape. Not out of the woods just yet but they’ll have a pretty good chance to at least fight their way toward 2050. Let’s see if we can get there.

2014-12-18_ZB_briefing

Opposite situation on the bond side and it’s quite possible we’ll slide off the plate here. That hourly Bollinger is clearly threatened and if we don’t see green here soon then momentum will start kicking in.

2014-12-18_DX_briefing

The Dollar is scraping new highs – no setup here but it’s pure chart p0rn for this lowly expat :-)

2014-12-18_crude_briefing

I did however get to keep my crude longs. Of course those haven’t budged very much – just my luck ;-)

But they are still looking in good shape and I have now moved my stop to the break/even spot near 56.


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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