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.
Much to my chagrin I only ran into one good looking chart that tickled my fancy this morning. It’s the EUR/AUD which is bumping against its 100-hour SMA. Plus there’s also a brand spanking new NBL which should offer additional resistance. Nice inflection point to stage positions – let’s see if we get some movement.
You also may want to check out my weekend post titled Market Breadth – it’s a continuation of the weekend update I posted a week earlier.