Thursday 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.

The Dollar has had its share of volatility yesterday but crept back toward its 25-hour SMA overnight. I’m short here with a stop above the SMA. Should the unthinkable in the form of a strong bid happen miraculously pushing us above the SMA then I’d take a long position. Yeah, I know – who am I kidding? We are so screwed…

Bonds – the 30-year is also kissing its 25-hour SMA, which as you can see has proven to be impenetrable for the past week. I’m short here with a stop above the falling SMA. Again, should my Earl Gray turn into Glühwein or if I see a push above 148’05 then I’d consider a long position.

Interestingly the 10-year is looking a bit more positive – more below for my intrepid subs:
[amprotect=nonmember] More charts and non-biased 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.
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Not exactly a picture of bullish momentum but ZN did manage to breach an hourly NLBL and is currently slightly above the SMA. I’m also short here but would consider flipping if we make it above 133’055.

Soybeans at the 100-hour – being the mindless market megalomaniac that I am I’ll once again take a short position with a stop above. Yes, one of these days it’ll breach – if that happens I’ll flip for a long near 1477.5. Could actually be a fun setup if this turns out to be some ugly inverse H&S.

Wheat – also selling here – once again my stop is above the 25-hour SMA. 815 would be my long trigger right now.

AUD/USD – testing the underbelly of that hourly NLBL. I’m currently short with a stop above. Once again I have no compunction about flipping it if we make it above the 25-hour SMA.

EUR/JPY – here I’m long with a stop below the rising SMA.

Cheers,