Wednesday Morning Briefing
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.
Equity futures have dropped overnight and the E-Mini is now scraping its lower 25-hour BB. Since the Bollinger is still rising steeply I grant it soft support. Meaning – if it doesn’t bounce here right away we may just slice through it. FYI – and we’ll talk more about this later – there may be a slight chance we’re getting a Retest Variation Sell signal on the daily chart. We would have to drop through yesterday’s lows for it to trigger.
Same pattern on the NQ right now – again expect only soft support, so don’t bet the house!
YM – very same idea – I would watch all three of them for early clues which way it’ll swing this morning.
Nothing tasty on the futures front today but I did find a few FX setups – please join me in the lair:
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Quote Of The Day: ‘Price speaks so loudly that I can’t hear what others say‘. — BobbyLow
Cheers,
