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Setups Galore Wednesday Morning Briefing
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Setups Galore Wednesday Morning Briefing

by The MoleFebruary 5, 2014

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.

We’ve got a ton of juicy setups this morning and equities are looking like they may ready to make a move. So grab a cup of java (or tea) roll up your sleeves and be ready for action – time to have some fun. So the GBP/JPY carry trade pair is still pointing down. If you look at recent shot term divergences you note that the pair always won.

However, I’m willing to consider both directions this morning, the potential for a fast move on either side is just too delicious to pass up. The Russell futures are treading water and are now facing a NLBL and a NLSL just a few ticks away. You know what to do – take a breach and use the inverse as your stop. DELICIOUS!!

I provided a bit more detail on the YM chart – very same setup. I mentioned ‘short until then’ but I should have said ‘short below the NLSL’.

The spoos not giving us ideal entry conditions and I would probably stick with the former two. However if it pushes above the SMA/NLBL combo then the bulls may just muster up the mojo to climb a few handles. Otherwise it’s looking pretty sad down here on the equities side. Bears rejoice but don’t get carried away.

But we’re just getting warmed up. Check out this beautiful configuration on the Dollar – I expect a big move coming and once again we have a small range separating the respective triggers.

More below the fold – please join me in the lair:

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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 various social media waterholes below.
  • Skynard

    /NG running, stopped me out. Geez!

  • Skynard

    Welcome the bulls to run this tape up a bit. Better short:)

  • CorporalCarrot

    Hey all. I’m rapidly discovering that having two children is more than double the work of one. There are no hiding places. This will be brief therefore.

    Just looking at this mornings setups a quick message to say in case anyone isn’t watching the ADP report in fifteen minutes has the potential to blow those bollingers open.

  • http://evilspeculator.com molecool

    You would think he had figured out after the first one that procreation is overrated 😉

  • CorporalCarrot

    Men don’t have any say in these things 😉

  • http://evilspeculator.com molecool

    That’s what you get for not following instructions.

  • SS_JJ

    Giggity indeed… 🙂

  • http://evilspeculator.com molecool

    Condoms are a man’s best friend. Just tell her you last longer that way 😉

    (assuming you live up the premise – women are not stupid)

  • Skynard

    Wow, no kidding! My gas bill will double:)

  • http://evilspeculator.com molecool

    EURUSD – did any of you Heisenberg beta testers take it?

  • http://evilspeculator.com molecool

    You have permission to slap yourself.

  • Skynard

    Did already, OUCH:)

  • Skynard

    /YM bulls defending 15300, see if it happens. Otherwise will be short again.

  • Skynard

    AUD support .8890.

  • http://dartht.blogspot.com/ Darth_Gerb

    Welcome to ‘my world’.
    Have you considered the nanny yet?
    Muwahahaha.

  • Skynard

    Bears are fumbling right now.

  • http://dartht.blogspot.com/ Darth_Gerb

    Football’s over Johnnny, it’s Overr!.

  • TravelinTrader

    Anyone know what was up with that spike in the dixy?

  • SilverEagle

    i wish they would’ve defended harder then I wouldn’t have bottomed ticked this move with a short at 280 on that huge candle that triggered.

  • captainboom

    Mole, it looks like the Zero isn’t running this morning. I know it’s premarket, but the time isn’t updating when I reload the page.

  • Skynard

    ADP report

  • CorporalCarrot

    So guys I’m working on the nanny situation so forgive this shitty five minute chart showing me buying some blood this morning. Unlike Dyyellow I didn’t hit the bottom exactly with a few significant entries at 15355. This is a bounce and double bottom play, which is very apt as I want to hire a nanny with a nice one, whereas the wife had other ideas 😉

  • Dyellowflash

    hmm… r u referring to me? I didn’t actually went long – last posts were short and I filled up to the fourth one and just TP-ed three sets a few hours ago. Now holding only 1 set of shorts (the weakest one) at current price is a dozen of points (Dow) in red ink 😉

  • Dyellowflash

    Oh yeah, I just checked my trading log history, my third and fourth sets of shorts were 15474 n 15476, so I missed the Dow’s yesterday high by 2 points 😉 Damn!!

  • CorporalCarrot

    Yes I was just referring to your uncanny ability to hit the bottoms/tops virtually to the exact tick, not in this specific instance.

  • Dyellowflash

    Hey… seriously bro… nobody hits the bottoms/tops virtually to the exact tick. I trade a system of 4 fills. Its usually the fourth or the 3rd one which gets the ultimate fill. The first one is usually the sacrificial lamb (might usu be a loss trade when I TP everything in bulk) and the 2nd one is usually just slightly profitable. My fill is in the order of roughly 4:8:16:16 contracts, but I can vary the size on the situation.

  • Dyellowflash

    Just a heads-up, I am currently short the EurUsd… There was a break upward, but not supported by zerofx… at least I wont be long until the blue thingy shows real participation on the up.

  • Skynard

    Have added to AUD, /ZW trades. 1/2 pos long /YM

  • Darkthirty

    Raised 5, the older ones can watch the younger ones, it’s the last couple you really have to step on………

  • http://evilspeculator.com molecool

    Market was still closed mate – don’t panic, it’s running.

  • Ronebadger

    Did anyone mention VIX Step 2 yesterday? I can’t check right now.

  • Darkthirty

    We all know where they come from…how they got in there is the question!

  • Skynard

    ZL 5 min buy signal

  • Darkthirty

    I got the other side

  • http://dartht.blogspot.com/ Darth_Gerb
  • Skynard

    Good luck, oversold and tested lows. Do not get greedy now, think we get a bounce:)

  • Darkthirty

    I hear that, scalping ATM. Conditioned for the algo ramps. Always anticipating an ES 10 point move, this downside has been stressful

  • Darkthirty

    Ask and ye shall receive!

  • CorporalCarrot

    If the Dow inside day triggers here and we get over the 200 day this could have legs.

  • http://dartht.blogspot.com/ Darth_Gerb
  • Skynard

    Hehehe, whipsaw alley, consider this a div on the 5 min:)

  • Dyellowflash

    Wtf was that? I was filled up to the fourth set, but that poke spook me out and I had just TP-ed.

  • Skynard

    Shakeout before the next move:)

  • Skynard

    Dollar ride is fun:)

  • Darkthirty

    That’s what she said………

  • Skynard

    Whoa, guess we had to re-test cash:)

  • SilverEagle

    those are some big 15 min candles I’m looking at this morning. this is battle totaled with 100 point moves up and down in 15 minutes.

  • Skynard

    Fear, Fear, Fear!

  • SilverEagle

    yeah, unfortunately ice storm knocked out all power around here. not a fay to be trading from your phone… killing me.

  • Skynard

    Ya, we are getting hammered now.

  • Skynard

    Mole, did you take profit /NG? Whoa, what a bitch!

  • Darkthirty

    Just ass deep in a snowbank here

  • Darkthirty

    Best investment I ever made was getting decommissioned

  • ridingwaves

    in lust or love always wear the glove…

  • Skynard

    Besides, looks to be abc W4 and 5 waves down to complete the 5th.

  • Darkthirty

    Dog shaking off fleas before a move

  • Skynard

    In VIX loto tickets and shorted UVXY:)

  • bdoone

    Yes. step 3 today would need VIX to close below 19.11

  • Dyellowflash

    I am currently long too… reluctantly…

  • ridingwaves

    you think down move is over? weak indexes..feels like it wants to roll over in a big way

  • TravelinTrader

    shooting star on the GBP/JPY hourly

  • Skynard

    Hehehe, big shake out in wheat:)

  • Skynard

    Think the initial move has completed, will be looking for that short above SPX 1800 now. Besides UVXY will go back to $30 bucks anyhow:)

  • Skynard

    Go Bitch:)

  • Skynard

    He is dead Jim:)

  • bdoone

    2nd attempt at lows failed in price and volume and now pushing thru 50hr and 25hr sma’s

  • ridingwaves

    nice call

  • Skynard

    Had to wait for the right moment to short UVXY:)

  • SilverEagle

    Turd of a day so far.

  • Dyellowflash

    TP-ed Dow @15456. Gotten 2 fills at day’s low.

  • CorporalCarrot

    Folks taking 100 points exactly off the table here on half of position (2R) and stop on remainder in to 15405. This bounce is tepid and ultimately I expect we need a final flush out on this move so I’m not going to be too cute. In previous writings I have said that ultimately if 1770 Spx gets broken with conviction we need to visit probably 1730 but ultimately 1700 ish, and I see little reason at this point to change that belief. I have some thoughts to post later but I need to interview a Swedish au-pair first.

  • CorporalCarrot

    That is just amazing. Again you hit the bottom tick and the top tick. Please share your methods and post the entries with charts at the time you do it so some of the rest of us can benefit!!!!

  • http://ibergamot.blogspot.com/ i Bergamot

    Just so people here don’t go ‘Fearless’ on my ass:

    Selling about 1/4 of marijuana stocks across the board.
    not because of any TA signal, just want to withdraw some money to spend in real world.
    My son goes to Italy! paid in cash! yippie!

  • ridingwaves
  • Bun Dance Kid

    double blue arrow alert…

  • Skynard

    Careful with that, could get to scalp it though.

  • Bun Dance Kid

    It always makes me wary. I was long but now I’m not so sure

  • Skynard

    Let R run, we will test 1753.5 now, think we get a breakout today.

  • Skynard

    If it is an uptrend day, we just got another buy signal on the 5 min. Unless of coarse the signal tanks. Bears are weak, look at the red DI line. Remember to let your winners run and drop your lossers like a turd:)

  • Skynard

    Look at the wave structure 5 min, one more move up.

  • Bun Dance Kid

    Yes, I need to start taking in the overall picture, but I’m still feeling my way. Good to have some pointers during thrive action though. Appreciated

  • Skynard

    Never be afraid of the tape, you will die! Panic you will die! You be the judge! Do not let these bastards push you around and rape you! Harden up MF!

  • Darkthirty

    nice 4th flat or in b of c

  • http://evilspeculator.com molecool

    What’s the ‘real world’?

    Italy – pheew – Spain delivers what Italy promises (just kidding).

  • http://evilspeculator.com molecool

    That’s why we call it the widow maker 🙂

  • bdoone

    Thats a good target: yest. highs and today’s R1 pivot. Looking higher: ES (falling)100hr sma 1759.25

  • Bun Dance Kid

    The Yellow is a master at that. I’ve suggested he share his methods before, but he’s too modest and protective. Ain’t that right Mr Flash 😉

  • Skynard

    Need a long range candle to make the long trade now. Bully, Bully:)

  • Skynard

    Got quite in here:)

  • Ronebadger

    LUNCH!

  • Skynard

    Lunch is for closers:)

  • Skynard

    Big move comith:)

  • SilverEagle

    Let’s hopeth down. 🙂

  • Skynard

    Hum, could be another buy on the ZL. The signals are becoming stronger. Showing div though, nice job! Watch the signal, pay no attention the the guy behind the curtain (your bias):)

  • SilverEagle

    That’s why they always say hope is not a strategy…

  • http://dartht.blogspot.com/ Darth_Gerb
  • Skynard

    Oh oh, got the data skip, Damn!

  • Darkthirty

    everyone that voted for tpotus would disagree

  • http://dartht.blogspot.com/ Darth_Gerb

    I suppose The bull is out to pasture.
    waiting for the next square dance.

    http://s17.postimg.org/9g8juu2kv/OEX_5th.png

  • Skynard

    Nighty Night yo bears:):)

  • http://dartht.blogspot.com/ Darth_Gerb

    /es above 1750 – accelerate?

  • Skynard

    Thought she was breaking out, still in limbo. Carving out a bull flag.

  • http://dartht.blogspot.com/ Darth_Gerb

    yeah – I’m watching on the 5m, daaam.
    is it OpX week?
    (1746)

  • http://ibergamot.blogspot.com/ i Bergamot

    Its a school trip, besides ‘Roman Holiday’ is a dream come true for us, residents of BumbleFuck, USA.
    Spain, yes. Ibiza is my ‘impossible dream’. Someday, bro, someday…

    Err, real world… you know… pen and paper, cash payments, home cooking, evening tea with friends… or is it a ‘fantasy world’…?

  • Skynard

    NOTHER 5 MIN DIV. HOLD ON:)

  • Rightside_ot_trade

    good timing aspect; price range comments not so much,
    pretty sure one needs to see what is not so obvious as the nose err…

  • captainboom

    Depends which pill you take…

  • http://evilspeculator.com molecool

    ¤ø„¸¸„ø¤º°¨¤ø„¸¸„ø¤º°¨

    ¨°º¤ø„¸F R E S H „ø¤º°¨

    ¸„ø¤º°¨ M E A T“°º¤ø„¸

    ¸„ø¤º°¨¤ø„¸¸„ø¤º°º¤ø„¸

  • http://ibergamot.blogspot.com/ i Bergamot

    Red Pill all the way!

  • sburtt

    Hi Mole are you login trades done by Heisiberg? is there a log page set up we can view as for CI? And also whats the reason CI google drive page hasn’t been updated in so much time? Thanks