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.

After scaring the children last Friday we have an attempt to produce a bounce here. The spoos have the best context via the 25-hour SMA which will have to be breached to produce a lift higher.

The Dow futures actually looking more bullish right now – interesting. Let’s see if both can hop over the fence. I’m planning to be long if that happens but with a stop below the prior candle’s low to give it AMPLE room for monkey business. Not much in terms of context here right now so you have to use a bit of finesse.

EUR/USD looking very juicy on the 60 this morning – extended BB compression and it seems to be in the process of falling. I would not chase the current candle wand wait for a little pop higher back toward the NLBL. What irks me a bit here is the 100-hour not too far below which will limit any downside potential. Long above that NLBL at 1.3696’1.

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

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Cheers,