There seems to be a new Olympic discipline that’s quickly gaining popularity – the 100-day SMA sprint. As a matter of fact I’m seeing this one on several fronts right now as traders across the board are being exposed to be a bit of mid summer heat. I recommend you crack open a cold one, put on your game face, and keep things frosty.

Here’s coffee – all entangled in its own Maginot Line. We may need some wire cutters to get this one out. The tough part about being long here is that the 100-day SMA is slowly dropping. So if you’re using that as your line in the sand then you need to disciplined and stick with your original stop. Yes, [...]

Some of last week’s setups are in need of some TLC and despite the rather annoying tape there are handful of new developments worth sharing. As I only see a summer skeleton crew I decided to make this a freebie – so leeches everywhere rejoice! 😉

Let’s start with currencies – the AUD/JPY is painting an inside day + NR4 combo. I would prefer seeing a continuation upward after last week’s NLBL breach, however if we drop through today’s lows tomorrow then I may take a few positions off the table. A drop through that NLBL would of course put us back into shorts.

Another inside day + NR4 combo over on the CAD/JPY – you [...]

And the short squeeze is on! Almost all of the setups I posted yesterday are well on their way and if you took only a few of them you should be sitting pretty at this point. And if you weren’t a sub – well, this post is dedicated to you! Let’s play that little game we call: You Snooze You Lose! (too subtle?)

Just last Sunday I mused about a little conundrum in my weekly analysis, in that the long term picture remained to be positive but that the short term strongly indicated a impending correction (recall that the first red candle appeared a week ago). And apparently that’s exactly what we got – a quick stab lower followed by a snap back [...]