Friday 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.

Rather meager pickings this morning. After yesterday’s late session drop the E-Mini has managed to slowly crawl its way back above that 25-hour SMA which has been the backbone of the recent ramp higher. The 100-hour is rising steadily and even if the 25-hour gives way it’ll most likely find support there. There is still nothing wrong with this chart and although I dont’ want to be involved on a daily basis short term swing trading off the 25-hour is permissible. But I do recommend you remain nimble – low oxygen environments breed volatility spikes, in particular before weekends.

Here’s my favorite setup this morning – 30-year bond futures (ZB) retesting its 25-hour SMA which is steadily rising. I included the hourly panel as the context here is rather precious – it’s pinned to its 100-day SMA and we may be looking at either a LKGB or a reversal of a fake breach lower. I recommend you follow that 25-hour which should point the way.

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Cheers,