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.

Interesting setups on the equities front this morning. The E-Mini is the weakest of the trifecta as it’s already below the 100-hour and is pinned between two NLSLs. A drop lower would seal the deal for a trip to 1560ish. A pop above 1576 gets us to the 25-hour but I do expect resistance there as well.

NQ right on the Maginot Line this morning – great setup with quite a bit of resistance on both sides. Very curious how this plays out. The sideways tape over the past few sessions also suggests that we may be coming out a squeeze and accelerate. Let’s see what direction – don’t be biased and let price guide you.

Here’s the YM – pretty much like what we’re seeing on the NQ.

Meager pickings on the FX front today – I do like cable though – could be a LKGB setup. Great context here with that NLBL and both SMAs coinciding. Have fun but keep it frosty 🙂

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Cheers,