Now Reading
Monday Morning Briefing
30

Monday Morning Briefing

Monday Morning Briefing

by The MoleOctober 28, 2013

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.

Nice SMA test this morning on the spoos – however I have to concede that it’s only soft support since it has only recently been observed. IMNSHO a much better setup is presenting itself on the Dow futures:

Here I’m long with a stop below 15511 – the 8:00am EST low. If it fails I won’t be short as I am not yet interested in short positions.

UPDATE: That setup got stopped out and we dipped into 1750. Reason why a short trade here is difficult to manage is that the 100-hour is advancing from below, most likely offering support.

The dynamics in equities are now difficult to assess – we are in a limbo range between the two SMAs and the expectation of the 100-hour support line offers only little profit potential with significant risk given the participation of the past few days. I would not be long here until at least the 25-hour has been re-taken. Confirmation of early long positions would be at the hourly NLBL at 1758.5.

More below for the subs – please step into my lair:

evil_separator

It's not too late - learn how to consistently trade without worrying about the news, the clickbait, the daily drama and 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.

Please login or subscribe here to see the remainder of this post.

Cheers,

Sign up here to receive my FREE early morning briefing:

About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
Enjoyed this post? Consider a small donation to keep those evil deeds coming!

BTC: 1MwMJifeBU3YziDoLLu8S54Vg4cbnJxvpL
BCH: qqxflhnr0jcfj4nejw75klmpcsfsp68exukcr0a29e
ETH: 0x9D0824b9553346df7EFB6B76DBAd1E2763bE6Ef1
LTC: LUuoD6sDWgbqSgnpo5hceYPnTD9MAvxi6c
PayPal: https://paypal.me/evilspeculator