Tuesday 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.

Equities continued their downward march overnight and the Russell futures are now at short term support. Only that they don’t seem to be impressed to the very least and it’s possible that they’ll replicate what we’re seeing on the spoos right now:

Similar configuration here and a sudden drop led me to append the same NLSL short entry to yesterday’s afternoon post (I wrote NLBL on the first chart but it should be NLSL). Anyway – that lower 100-hour BB was first observed but eventually gave away. So barring the appearance of the marines in the coming session odds support continuation lower to daily support. It’s a bit early to judge as we just got going – however the NQ may be the one offering early clues plus it’s actually tradeable right here and now:

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UPDATE opening bell: Apologies for the late warning but today appears to be a double POMO day:

Be prepared and look at the Zero for early harbingers of troop movements.

Cheers,