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.
Equities are a mess right now – short term there is little context, thus no setups and nothing for us to do. Yesterday’s long a$$ candle does not work in our favor as it makes taking entries very difficult. So the best we can hope for is a boring sideways session which may at least produce an IP or an RTV-L.
Moving on – CAD/JPY may just muster up enough mojo to overcome upside resistance looming above. IF it does I want to be long starting around 93.19. Put your stop below 93.05ish.
Bonds – the ZB falling toward its rising 100-hour SMA. Right now I am long with a stop at 135’14. If it doesn’t get there you can wait for a long above the 25-hour SMA at roughly 135’26. Finally if it drops through the first short campaign I’m interested in a short below 135’14.
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