It’s Lonely At The Top

Equities across the board ran into a brick wall this morning. Being Friday and all the timing was exquisite and in my mind the whole March unemployment shpiel or [fill in explanation of your choice] was just an excuse to scare out some of the children. I actually got pretty lucky in my short term NQ long as I was stopped out before things accelerated to the downside.

A quick visit to our trusted E-Mini volume profile chart suggests that here continues to be a volume chasm starting at 1890. As the saying goes, it’s lonely at the top.

Something I pointed out yesterday and I hope some of you guys were tracking it. The GBP/JPY continued pointing down and the divergence finally caught up with equity traders. I keep telling you rats – Forex is the dog that wags the equity tail.

Here are the spoos in all their gory – as of this writing the lower 100-hour BB seems to be offering some support. On the daily we are probably going to close as a shooting star but unfortunately we are in an uptrend now and that doesn’t give us a short entry. However should the highs be breached we do have a pretty good long trigger. Whether or not that will happen is anyone’s guess – I just work here.

Besides I have better things to do than to chase after those inane stock market wankings. Here’s natgas which I still love right here near a daily NLBL. I posted this one yesterday and it’s crept a bit higher – keep an eye on this sucker starting Sunday night.

Time for some updates. Gold banked us 1R and will probably close below the mark. And that means we take profits – heck, it’s money in the bank and someone has to pay for my illustrious lifestyle.

Crude still on the way and I’ll keep it running over the weekend as is.

Cocoa – who would have thought? Boy oh boy – it’s already jumped to the 2R mark and will probably close below it. I say let’s close her out here 1.5R and call it a week.

And that would be my cue to wishing you all a smashing Hefeweizen infused early spring weekend!

It’s not too late – learn how to consistently bank coin without news, drama, and all the misinformation. If you are interested in becoming a subscriber then don’t waste time and sign up here. The Zero indicator service also offers access to all Gold posts, so you actually get double the bang for your buck.

Prost!!