Let’s Call It A Week
I just parsed through my universe of charts and what hasn’t blasted off already is running in circles. Not the type of tape I would want to touch with a ten foot pole. On the equities side there is really nothing to add that hasn’t been said already. My small short was taken out at break/even and I’m staying out of this turd of a tape until we see some real context. Remember my Epiphany post – that general assessment stands now more than ever.
Two GBP setups before I call it a week. GBP/CHF seems like a good long here but I’m only playing 1/4R with a stop half a mile away. On the daily we have been testing the 100-day SMA and thus far it’s been holding.
The other 1/4R goes to GBP/JPY which is unfolding similarly. Here we are scraping the lower 100-day Bollinger which may offer some support.
That’s it for now, folks. It’s early fall, my favorite season after spring; the weather is excellent (sunny and warm with a nice breeze) and I’m officially calling it a week. See you guys Monday morning.
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