Happy Monday 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.
The week is hitting the ground running it seems. As Skynard mused in the prior post – we are most likely going to see a spike in volatility here today. The spoos are looking super juicy here as we are tickling support and it’s my patriotic duty to grab a long position with a stop below 2099. Below that we’ll probably drop into whoknowshowlow. Which means I’ll swap for a short if stopped out.
The 30-year bond futures are also sitting on a binary inflection point – long above the NLBL and short below the rising 100-hour SMA which is also backed up by a NLSL. Bonus point – you won’t have to roll for a while if it starts trending, so stop futzing about and get on with it.
Time to strike while the iro… uuuh gold is hot – a stop below 1180 should do the trick. This one is also short of dropping off the plate which means I’m open to flip the script and go for shorts if stopped out. All that sideways tape has lulled you into almost slavish submission and I bet good money right now most of you rats will miss the boat once it starts trending. Prove me wrong.
GBP/NZD – long here with a stop below the 100-hour SMA. Who wants to live forever? Me actually which is why I’m only playing 1/2R.
You want more? Better pay up and join the club – leeches only get to see the tip of the iceberg 😉
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A bit of event risk around 10:00am Eastern – so batten down the hatches around that time. See you guys later this afternoon.