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Wednesday Morning Briefing
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Wednesday Morning Briefing

by The MoleNovember 6, 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.

The hammer long setup on the SPX appears to be in the process of triggering on the spoos (equivalent trigger shown at 1764 – it’s 1767.03 on the cash). It’ll run into two NLBLs almost immediately so I don’t feel so hot about it – but a setup is a setup. I’ll jump in with 1/2R and see if it can get past 1776 on the cash. My stop is below ES 1751.

The greenback is approaching short term support after pushing sideways for a few sessions. No setup here yet – let’s see how it behaves once it starts touching that 100-hour SMA.

However there is a plethora of EUR setups today as things seem to be coming into sync on that front. Please step into my 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.
  • http://evilspeculator.com molecool

    The daily Zero has been updated.

  • Skynard

    IHS /DX 5min, long.

  • CorporalCarrot

    Reupped my shit at 1767. Long side has been good to me the last few days. See no reason to bail at this stage.

    I will be keeping a very close eye on the LEI though. Completely irrelevant to overall market direction in the long run but could be cause for a scare the children stop run fiasco.

  • SS_JJ

    LEI ?

  • bdoone

    leading econ indicators

  • SS_JJ

    Thanks. Pardon my ignorance.

  • CorporalCarrot

    Cutting here taking another few handles. Needs a breather.

  • CorporalCarrot

    This looks like panic buying.

  • Darkthirty

    looks like algos gone wild

  • Dyellowflash

    A little bit more…. almost there for shorting.

  • Darkthirty

    waiting on it myself…..

  • Dyellowflash

    This is going to be a very risky entry.. the price is about right, but the time is not yet – another 15-20mins to go by my system. Very conflictual..

  • Darkthirty

    about 0925 cst?

  • Dyellowflash

    u gotten it? i think there might be another high coming (or may not be), so got to stay nimble. GL :)

  • Skynard

    Failed re-test, /ES needs to take out 56

  • Dyellowflash

    Mine said YM needs to take out 15670 to make it a possible DownTD, if not, I am going to assume its an up TD… that’s life.

  • Darkthirty

    Always scalp this bitch! fib time called that one!

  • Dyellowflash

    omg… my platform jammed and i mis-clicked and TP-ed the whole bulk of my shorts instead of half… Lol… not meant to be…

  • Darkthirty

    I’m running through RJO, and their system seems o kick me off a inopportune moments pretty regularly

  • CorporalCarrot

    Yesterday was an uptrend day in a downtrend day. Today looks like being a downtrend day in an uptrend day 😉

  • http://dartht.blogspot.com/ Heisen_Gerb
  • BobbyLow

    Just more of the continued Fuckery Saga. Currencies are all over the place again today as well.

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

    Word.
    CVX pulled a meth tooth pattern on the hourly. :-)

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

    8 point swing in an hour?? – what is this?, OpX?
    (Gerb double checks his calendar)

    http://s22.postimg.org/4omxximyp/8points.png

  • BobbyLow

    I needed a little chuckle this morning so as much as I hated to do it, I took a look at the Ecomomic Reports on Bloomberg. Here is what I found:

    http://www.bloomberg.com/markets/economic-calendar/

    In Summary:

    Two Job Reports Kinda Sucked. (This explains the early Stock Market rally)

    EIA Oil Inventory showed the 7th Weekly Build in a row. (This explains the rise in oil prices)

    Now ain’t this a hoot? :)

    Seriously though, I’m close to going long Oil – The Bull Shit has already begun to flow so you had better roll up your pant legs because it’s too late to save your shoes. LMAO

  • Skynard

    Woohoo, /NG rocket:) Now lets see the same from /SB

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

    just be careful. I remember a guy named AMC who sneaked some peaks, and it (the news) did a judo mind fuck backflip on him, and broke his spleen.

  • BobbyLow

    LOL

    No worries here. I have become so cynical about news reports that if one of them said that the sun was shining, I would still have to look out my window to verify.

    I know you trade some oil stocks so I thought I would share this little warm and fuzzy article before it disappears forever. :)

    http://www.bloomberg.com/news/2013-11-06/brent-crude-traders-claim-proof-bfoe-boys-rigged-market.html

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

    Full short at VWAP.

  • BobbyLow

    Funny, I was thinking the same thing. :)

  • Dyellowflash

    This was the ZL for 25 Feb 2013. Currently this seems like a possible outcome IF we continue to fail to even touch the middle VWAP and IF ZL on top picks out strength to like -2 during a lower low (IF there is a lower low in this move down). GL, I am going to sleep now with only 2 trackers shorts, my main position was cleared at that previous dip by accident and I dont feel like getting more for now. On the other hand, if no lower lows in the next move down, then its GG for shorts imho – wait for another week.

  • SS_JJ

    I’m looking at the SPX hourly chart and I just can’t get the double top pattern out of my head. Somebody please kick me in the nuts…

  • http://evilspeculator.com molecool

    No, the context is completely different here IMO – we have not seen any large signal spikes to the downside. Any sell off this far looks engineered and is designed to reel in folks on both sides of the isle before it takes off. Very tricky tape…

  • Dyellowflash

    I agree! I was giving the down TD play the benefit of the doubt bcos the early spike up driven by emotions was cleared down which result in a possible “unexpected” slam in for late buyers. But unfortunately, they seem to have strong hands and the fact that the VWAP in the middle was touched and possible crossed + only half a session is left has reduced the odds of a down TD, unless we are in a bear mkt, then down TD can happen within half a day, but we aint yet. I shorted WS at 15730 at the early half hour of WS opens and had cleared off around 15680-82. At that point, I was thinking that another possible quick up move to test the high and if that fails, will also lead to high chance of down TD, which unfortunately is happening also about now when WS reaches 15727. Unfortunately, this is now the 4th hr instead of the first 1hr+ period, which again shorten the odds of a down TD. That said, with reference to the daily ZL, I dont mind getting another tracker short somewhere around this range for the week to see how it goes.

  • Skynard

    Do like the moves we have had the past few days. Stops have been triggered in both directions now and the bus is empty:)

  • SS_JJ
  • http://evilspeculator.com molecool

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