One Measly Chart

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.

Across the spectrum the tape is looking a bit aimless early this morning. IMNSHO the only chart worth mentioning appears to be the E-Mini which is back at the 1687 sell off zone that has produced a slightly falling sequence of unconquered NLBLs starting last Thursday. Well, this time we are actually above the current NLBL of 1686.25, so perhaps after frustrating the heck out of everyone the bulls may just make a run for it.

I’m currently long with a stop below 1685. A very speculative position, thus I’m in it with only 0.5R. No sense to get mentally or emotionally involved here – it’s the dreaded summer tape after all. But like everything, even this shall pass 😉

It’s not too late – learn how to consistently bank coin without news, drama, and all the 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.

Cheers,