This tape is looking a tad iffy today. Call me paranoid but a drop like this during a low-vol holiday Friday seems a bit questionable at best. By all means do not feel tempted to chase this sucker to the downside. Let’s review where we are:

Spoos sliced through their daily NLSL – in theory bearish but there is a pretty good chance at a retest on Monday or Tuesday. But even if we don’t get it and continue lower there is no edge in chasing this down today. The risk of a snapback clearly outweigh the benefits of riding this lower. What I would want to see of course (not that anyone cares) is a last kiss goodbye next week – let’s see if [...]

Alright, I think it’s time for some tough loving’ as I’m getting a bit annoyed by some of the wining I see in the comment section. I have been a gentler kinder Mole as of late and as a result it seems some of my steel rats are getting a bit soft. It may be fun to hang around here and exchange funny pics or jokes but not at the cost of missing out on several U.S. AAA prime rib setups I kept pushing here. And not just once – this is a curious trend I have been noticing as of late. I post valuable setups and receive little to no comments even if they resolve nicely in the plus a few days later. What gives? Seems at least some of you are not with the program [...]

It’s the first day of the quarter and for some reason I have setups crawling out of the woodwork today. So let’s not waste time and dive right in, shall we? Let’s start with a quick peek at the spoos and then we head into currencies and commodities – plenty of fun to be had today.

Although I suggested a post ramp sideways day I find it very interesting that we should revere right here. Either it’s a trap (think pre rocket honeypot) or something else is going on. Ideally we should be humming here. Fortunately my Net-Lines chart shows us quite an easy setup right here and now:

As suggested on Friday we bounced at the 100-day [...]