Tuesday 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 is currently testing its 100-hour SMA. Excellent spot to get positioned – I’m standing by to jump in based on which direction she breaches.

The AUD/JPY has a lot of support looming below and I think this is a good spot for a long with a stop below the 100-hour. If that one breaches the last line of defense is the lower 25-hour BB – that goes and we go to 93.4.

More charts and non-biased commentary below for anyone donning a secret decoder ring. If you are interested in becoming a Gold member then don’t waste time and sign up here. And if you are a Zero or Geronimo subscriber it includes access to all Gold posts, so you actually get double the bang for your buck.

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Cheers,

This entry was posted on Tuesday, January 29th, 2013 at 8:09 am. Both comments and pings are currently closed.

  • JackSparow

    question to CS from previous post, 
    if you could please spare a few mins to explain your thoughts on this

    I completely agree with AUD setup from previous post all the characteristics of a bounce from support with a good RR for a LONG, the question I have is would you look at it differently if you are short from above , i.e would you continue riding a short if evidence on a longer time frame is still on the fence but suggestive of a bear trend?

    I always reread this “the big money was not in the individual fluctuations but in the main movements-
    that is, not in reading the tape but in sizing up the entire market and its trend.”-JL, 

    and resolve to get it right the next time when I end up as an example of this :)

    “They say you never go broke taking profits. No, you don’t. But neither do you grow rich
    taking a four-point profit in a bull market.” – JL 

  • Ronebadger

    CS. Great to have you back

  • http://evilspeculator.com molecool

    Hey guys – don’t wear him out. Scott is very helpful here but he won’t be able to comment on every single setup. Instead study the rules and work on your systems.

    There is no problem riding a short term long position in a bear trend – just be aware of it and don’t overstay your welcome. This means you need to be extra cognizant of potential resistance clusters – get out sooner than you would in a long trending market. 

  • Skynard

    Currently sitting between NL’s on the hourly, that is what I’ll be using. Keeping it simple, bouncy bounce:)

  • ridingwaves

    Keep in eye on KERX again today, looks like the force is strong with this one..up $1+ in premarket..
    Barrons article said it could double from here

    could be a setup here…will wait for pullback before entry..

  • Joe_Jones

    Let’s just hope it won’t be another boring session.

  • Joe_Jones

    VIX is playing slightly above the 20 d sma. Interesting….

  • Skynard

    Another good gauge, Bucky just shit the bed:)

  • Schwerepunkt

    Ew . . . what’s that smell?

  • ridingwaves

    helping my NUGT

  • Skynard

    Agree, 100%! Thinking about starting to take some positions to fight inflation until May time frame.

  • AmazingLarry

    Check the daily BB on the NDX and then look at AAPL. Daym!

  • Schwerepunkt

    bad consumer confidence number, let’s see if it pushes ES below the 100-hr.

  • Joe_Jones

    another “massaged” number courtesy of the bearded clam

  • Schwerepunkt

    I’m not concerned with the number, only the market reaction WRT 100/25 BB. So far, still above the 100-hr noted by Herr Mole.

  • Rightside_ot_trade

    TICK only a modest low value on that
    But some New bulls a little nervous up here finally
    Credit JNK HYG DHY also pretty good drop off taking out five days of longs

  • Skynard

    Looking for AUDUSD to find resistance at the 62 area around 1.05. Long till then:)

  • ridingwaves

    seems like the mm’s want 14000 dow…so close…nice round number along side 1500 spx…

  • Skynard

    F it, went long /ES on the pullback. Market should tank now:) Your welcome!

  • Joe_Jones

    Jeez what a whipsaw. Confirms that news do not matter in case anybody have any remaining doubts. Bots can go shaft themselves as far as I am concerned. I’m tired of this rigged game.

  • Skynard

    Nice signals!

  • Joe_Jones

    Indeed, but the frequency of the change is too high for me to have any use of it. 

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

    If anybody still keeps FB long,
    earnings are tomorrow after close and it looks like I am not the only one reducing size. I don’t trade earnings, but in this case will keep half of position.
    Let ‘er ride

  • Schwerepunkt

    VIX flatlining. Big yawn.

  • ridingwaves

    Anyone want a possible flyer…look at ABIO…get in soon set stop at .35 and see where it goes…21 and 50  are behind it and 50 will cross 180…exit at .75 or higher…

  • Pervergence

    Here comes bucky…….

  • Pervergence

    s GC

  • Joe_Jones

    +1

  • Skynard

    Looking for 1501.75 /ES before loading shorts.

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

    Spoos 1500.50 – what a circus.
    (shaking head)  - algos raping algos.

  • http://evilspeculator.com molecool

    Good Mole signals today…

  • http://evilspeculator.com molecool

    Elaborate please – need pertinent input in the context what I’m working on right now.

  • http://evilspeculator.com molecool

    Wasn’t that a nice lift off the 100-hour! :-)

  • ridingwaves

    DMND is starting to look like short squeeze imminent..

  • Skynard

    Nice little shake out:)

  • Rightside_ot_trade

    /CT reversed off the hourly 25 again and closed back above hourly Sell Line
    But getting volatile past few days

  • Rightside_ot_trade

    /ZS under yesterday’s diagonal at hourly 25

  • Joe_Jones

    Well since I am not a bot, I am not really disposed to change side every 15 min or 1/2 hour. But that’s only me. Other more aggressive traders would probably like it the way it is. For me the market has been unplayable lately: I cannot compete with bots that keep on stopping me out of position, and I don’t want to raise the stops until it becomes really painful. I can hardly remember a trend day (without gap) from the open to the close since the start of the year. Currently sitting in cash and considering taking a break from trading until volume picks up.

  • Skynard

    Bull flag 5 min.

  • Rightside_ot_trade

    /GC I keep having to remind myself that sideways is a direction; and seemingly more common than the other two, in all timeframes.
    7 point range in 12 hours

  • JackSparow

    Thanks Mole

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

    a great example of embedded STO & RSI – useless when trending begins.
    [SPX]
    http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=5&dy=0&id=p75865893199
    -Gerb

  • Rightside_ot_trade

    Stochs can become useful sometimes when it comes
    in embedded

  • FSUinArizona

    TDA, 60min, 5min and we are at a new high. I will take the other side of this move.

  • Skynard

    See if that div plays out today.

  • AmazingLarry

    Friendly reminder: Benflation (FOMC) mañana at 2:15 EST. 

  • Skynard

    Think that will be on tomorrow.

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

    how so? …like when it un-embeds and drops below 70/80?

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

    the march continues.
    better in equity than 20 yr treasuries

    http://stockcharts.com/h-sc/ui?s=$SPX:TLT&p=D&yr=0&mn=8&dy=0&id=p15773745692

    (is that where the money is coming from? bonds to equities?)

  • Rightside_ot_trade

    Yes that’s when it gets my attention and then I start looking for a trend trade

  • http://evilspeculator.com molecool

    ¤ø„¸¸„ø¤º°¨¤ø„¸¸„ø¤º°¨ 
    ¨°º¤  S H A K E   N ¤º°¨ 
    ¸„ø¤º° B A K E !“°º¤ø„¸
    ¸„ø¤º°¨¤ø„¸¸„ø¤º°º¤ø„¸

  • http://evilspeculator.com molecool

    I hate FOMC days…

  • http://evilspeculator.com molecool

    Ay cap’n!

  • ridingwaves

    see the marketwatch front page….

    whatever it takes…14K for Jan…feb is looking ripe for shorts..




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