Your Line In The Sand

There are reasons why many folks here subscribe to the Zero and the current short squeeze is one among many. I’ll cover that later – for now let’s take a quick look at the spoos and the SPX. We are now bouncing from well established support lines but I want to drill our treasure map into your rodent brains so that nobody gets caught with their pants down.

The daily is useless right now so here’s the weekly SPX which has given us two juicy net-lines – one to sell and one to buy. We were once again retesting the NLSL today and that is potentially bullish – assuming of course it holds through the session and tomorrow.

Conveniently the hourly spoos lines up rather well as that lower 25-hour BB line is in sync with our NLSL – if you take fair value (not PREM – sorry, mental fart on that chart) into consideration which is currently around 5.9 (depending who you ask).

Suffice to say that breaching below would create quite a blow out – which is why those bastards have been trying to scare the children yet once more again, just to reverse the tape in the last hour. Basic script and it ties into what Volar (or was it Fearless) was talking about in his post: The first hour is for the suckers – the last is for the players 😉

Okay, here’s a very juicy FX setup for the subs:
[amprotect=nonmember] Charts and 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.
[/amprotect] [amprotect=1,13,9,12,5]

USD/JPY – what a nice range bound compression right at the NLBL – you have to love that. Use that hourly NLBL as a line in the sand, which is basically equivalent to the 25-day SMA on the daily. If it breaches – go long. Until then – stay short. If you can get a position right near that line – it’s golden but things could move fast and that daily NLBL so far has proven to be impenetrable. Bear in mind that this NLBL expires tomorrow – officially – but that’s a man-made rule and I still thing the SMA is the one to watch.

Cheers,

Mole
[/amprotect]