Thursday 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.
The E-Mini has been waddling sideways all night and is now at its 25-hour SMA. Excellent spot to dip into some short term positions. Long if she holds and short if we breach here. Remember, it’s all about the follow up and a little post spike piggy shake out would not be out of character.
Crude interesting on a short term basis if you glance over to the daily. My eyes are on that diagonal that used to be support and has since turned into resistance. Now there’s method to my madness – if the 25-hour SMA breaches then I’d be tempted to grab some short term long exposure. If that doesn’t happen then we’ll revisit this setup later today.
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This entry was posted on Thursday, January 3rd, 2013 at 8:17 am. Both comments and pings are currently closed.