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Tuesday Morning Briefing
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Tuesday Morning Briefing

by The MoleJune 4, 2013

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.

Here’s yesterday’s E-Mini session as observed via the Zero indicator. That bullish divergence at the bottom gave you plenty of time to lighten up and perhaps drop into some longs. Crank up the tune and watch those Mole signals point the way.

The E-Mini has managed to hold its 25-hour overnight and thus far it remains above its NLSL. First hurdle ahead will be the 100-hour near 1642.

Crude – very nice setup as the 100-hour is meeting the 25-hour SMA. I’d be long above the 100-h and short below the 25-h SMA.

The greenback is continuing its drop lower and it now seems that its 25-hour is once again observed as resistance.

AUD/JPY – short here below the 25-hour with stop near the 100-hour SMA. Long only above 97.23 which is the hourly NLBL – once that passes us use that diagonal I painted.

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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

    Still waiting on that EURUSD set-up to transpire:)

  • Schwerepunkt

    You thinking long or short on EURUSD?

  • Skynard

    Well, still below that 100 daily and the dollar just got some juice from data just now. The EURUSD can not seem to get above the 100 with all the dollar weakness. Playing it short now. AUD puked up half that profit from yesterday as well, what a FN head fake. AUD GDP tonight. Dollar came close to Mole’s P&F target, see if it is close enough:)

  • Schwerepunkt

    It is Tuesday after all . . .

  • Joe_Jones

    Trying a small ES short at the 1st hurdle

  • Daron

    so far my NQ long from yesterday has worked out nicely :-)

  • Skynard

    Agree, short fr 44. ZL not in agreement.

  • DarthTrader

    /ES is in an ABC up to the 1649 area

  • amokta

    My thoughts too, eyebaling the chart.

  • bdoone

    Weak TICK not in agreement with any kind of gap-n-go scenario…but it is Tuesday

  • stovis

    There goes oil again, triggering short, then long, then short, then…

  • ridingwaves

    buy program kicked in at ROSG

  • BobbyLow

    Mind Boggling isn’t it?

    It appears to me that the overall trend is down since the 5/20 High but it depends on which timeframe is used to make a call. I’ve also found that the peaks and valleys of oil prices tend to come a lot quicker and steeper in the summer. This has made it a little dicey for me to swing trade oil this time of the year.

  • http://www.facebook.com/profile.php?id=100001131611045 Exar Kun

    TP-ed the shorts. No significant participation from ZL.

  • Skynard

    Full short now /ES at resistance:)

  • saltwaterdog

    With you… been backtesting the broken H&S neckline at the 100hr… not typically a big H&S fan but I like this one, measured move 1607

  • http://www.facebook.com/profile.php?id=100001131611045 Exar Kun

    In with a tracker Short. Mentally neutral.

  • Skynard

    This move can not regain VWAP, otherwise it will test today’s high. Should be interesting to see if dollar/market correlation breaks or continues.

  • Joe_Jones

    makes sense. I’m adding to my ES short position

  • Skynard

    Think we have a decent move on our hands, AUD in full bore reversal now, lost today’s low:)

  • http://www.facebook.com/profile.php?id=100001131611045 Exar Kun

    Seems to halt at the PVP (white line). Might want to reduce exposure 😉

  • Joe_Jones

    if we lose the 25d sma on SPX, the next stop is around SPX 1604
    http://stockcharts.com/h-sc/ui?s=$SPX&p=D&b=5&g=0&id=p14127915483
    kinda match the volume hole too
    https://securecdn.disqus.com/uploads/mediaembed/images/509/8992/original.jpg

  • Skynard

    Trendline break, she’s going to tank. Notice the lower peaks on the 5 min pos di line, it is losing strength.:)

  • Joe_Jones

    Out of shorts: I don’t like the lack of mojo

  • amokta

    The market has shown its soft underbelly. Harpoons at the ready!
    (disclaimer: no animals were injured in the making of this comment)

  • Skynard

    We have a div on the 5 min although it is a wash today since the dollar is holding up:)

  • amokta

    which mojo indicator are you using? :-)

  • Joe_Jones

    ZL

  • Joe_Jones

    if we fall under SPX 1632 I may jump back in. Right now ZL is dead so I prefer to stay out.

  • amokta

    Thanks.I suppose Darth T was talkng about abc up to to spx 1650, which we kind of made, so could be down move now in play. It seems dow nmoves more strong since last few weeks c/o Skynards ‘short till september’ motto, but who can know the future.

    As long as you banking consistently banking coin with your system thats the main thing!

  • Skynard

    Ya, flatline now moving stop.

  • http://evilspeculator.com molecool

    Stop fucking around – guessing is meaningless.

  • amokta

    Not quite guessing – we have a decending price channel since May 22nd?
    I agree that its not rubust enough to constitute a formal set-up.

  • Skynard

    Nice channel on the 5 min.

  • Skynard

    Oppsy:)

  • Joe_Jones

    Damn! Missed that red candle. ZL showing some life again. Trying a new short

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

    Bannana Peel!
    I think the DOW has had a ‘cold’ for several days now.

    http://stockcharts.com/h-sc/ui?s=$BPNYA&p=D&yr=0&mn=6&dy=0&id=p82232306811

  • saltwaterdog

    Didn’t think it would take that long, but I’ll take it.

    IPs everywhere today setting up for tomorrow… as of now IPs in CL, NG, SI, PL, Beans, Meal, Wheat, KC

  • Skynard

    Nice, just getting started though. Hell, it would be nice to see some panic for a change:)

  • http://evilspeculator.com molecool

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    ¸„ø¤º°¨ M E A T“°º¤ø„¸

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  • Ronebadger
  • buysidetrader

    ZL made a lower low today finally cracking that -0.50%