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Friday Morning Briefing
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Friday Morning Briefing

Friday Morning Briefing

by The MoleJune 21, 2013

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.

The spoos have managed to claw back some territory overnight. It’s now heaved itself over the 25-hour SMA mark and I would be tentatively long here with a stop below that NLSL at 1589.25. Short below of course.

Gold stuck between two Net-Lines – entries (and inverse) stops shown on the chart.

AUD/JPY in a possible Retest Variation Sell near its 100-hour SMA. How could I refuse? Long above the 100-hour SMA.

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Public Service Announcement: We’ve got quadruple witching happening today. Which means it’s going to be options expiration for the month of June. It is also a quadruple witching expiration which occurs four times a year on the third Friday of March, June, September and December. This is a time when stock index futures, stock index options, stock options and single stock futures will expire. With markets already jittery post yesterday’s FOMC taper comments it’s safe to expect volatility and the obligatory head/bottom fakes. Happy hunting but keep it frosty.

Cheers,

 

About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
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