Inside Pay Day 3.0
Inside days are always fun and are slowly starting to become a favorite tradition here at Evil Speculator. Last night’s resolution in silver and the spoos put a rather smug and derisive smile on my face. And that’s how we roll here at the evil lair – please leave the punditry and opinions to the schmucks on the other side of our trades. We prefer to stick with wherever the tape takes us.
If you are a leech you got this one for free – please spend your ill-gotten gains with a skinhead of your choice. BTW, whoever gets this reference will instantly be promoted to über-stainless-steel-rat.
If you were a sub you also enjoyed silver’s fall off the proverbial plate. Bonds were a non-starter – sorry, I don’t make the tape, I just report it.
Here’s our hourly treasure map on the spoos. Still a bit room to run – I expect resistance near 1387. However, the daily and weekly charts are more interesting and I have a few more perspectives you may find interesting. Please step into what remains of my once evil L.A. lair:
More charts and cynical 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 or Geronimo subscriber it includes access to all Gold posts, so you actually get double the bang for your buck.
As you can see that 1387 mark on the hourly also represents the upper frontier of our current trading range. Plus there’s that 25-day SMA which looms as continuous resistance. I’m not saying we won’t push above it – what I am saying is that we probably will see acceleration above that point if we do.
I would also watch that daily NLBL on the AUD/JPY – we are above it and once we get beyond 84.73 (the 25-day SMA) we should be good to go for a good ole’ fashioned short squeeze.
While we are on the currency side now for something completely different. The weekly DXY chart caught my attention as we are currently in the eye of the storm. You wouldn’t know it watching the daily chart but look – we are above the 100-week SMA, we are right below a NLBL, there’s that diagonal support. What happens here and now (I mean in the next week or two) will affect the ongoing trend for the remainder of the year. Keep an eye on this.
Crude has been boring as of late. Well, good – as all that coiled up frustration and pent up emotion will serve to bank some coin for the mighty Mole (too humble?). In all seriousness – this is a nice formation, especially with the 25-day SMA above and the 100-day SMA below. My cats could have traded this setup – unfortunately they are four feet under and won’t be jumping all over my keyboards anymore.
Last but not least – a nice possible setup on nat-gas – pretty much boiler plate test of the NLBL. I have a tiny long exposure here and plan to add positions at 2.091.