Wednesday 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.

Great setups across the board this morning but before you go nuts be aware that we’ve got the FOMC minutes at 2:00pm EST today. So be sure to be out of any of these short term setups unless they have moved significantly in your favor. You have been warned.

NQ – I don’t really think we have a setup here. Sideways range overnight and I don’t see it making any big moves before the announcement. But if you think otherwise then here’s a pretty solid inflection point at NQ 4387.

USD/JPY – long here with a stop below 119.07.

EUR/GBP – that’s my lottery ticket of the day. Long here 1/4R with a stop below this morning’s lows. FYI – this may as well fall off the plate – so if stopped out I may consider another lottery ticket to the downside (depending on velocity – not in sideways churn tape).

ZB futures – I told you to watch this one and that’s exactly what I’m doing as well. No setup here yet but I’d be long above that stack of NLBLs. OR short right below it if it seems we’re not pushing higher. Yes, this one may take a bit of finesse but it has great potential either way IMO.

Seven more goodies below the fold – please join me in the lair:

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You have been briefed – now have fun but keep it frosty. See you guys later this afternoon.

Cheers,