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Phoning It In Today
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Phoning It In Today

Phoning It In Today

by The MoleJune 7, 2016

Forgive me for phoning it in today but I stayed up late last night fixing a few technical issues that sprung up, plus I’m running a few systems simulations today. Equities turned a bit into a hassle yesterday due to Yellen flapping her lips, however despite an instant stop run to the downside sentiment remained solidly bullish as evidenced by participation on our Zero chart.

2016-06-07_zero

For the uninitiated: The signal only briefly dipped below the zero mark during the sell off and quickly recovered. There was some profit taking EOS but nothing suggesting real fear. This is the second time we see this happening in one week and is definitely well worth nothing. The Zero often offers us valuable clues which are not apparent just looking at the price action. Also more often than not it is leading as opposed to lagging, and as such it stands unique in the sea of indicators that you’ll find in your favorite trading platform.

shop_smart

That’s right trade smart – trade Zero-Mart. By the way did any of you guys catch his new series ‘Ash vs Evil Dead‘? It’s absolutely brilliant and if you’re a fan of the original then you’re in for a treat. Well worth the three decade wait.

2016-06-07_spoos

Alright – entries! I took out a small long position in the spoos a little earlier as the tape descended into that stack of short term NLSLs on the hourly. My stop is below 2106 which should keep the demons at bay in the coming hour or so. Although I may be stopped out I think we’re holding pretty nicely up here and any downside action will run into a series of hurdles – first on the hourly then on the daily.

I’ll chime in a bit later if I find anything juicy worth sharing.

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.
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