Thursday Morning Briefing
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.
Pretty interesting morning on the equities side – thanks to yesterday’s sideways churn we’ve got a pretty pronounced BB compression and I expect it to resolve either today or tomorrow. The E-Mini has been dancing on the 25-hour SMA and I would take a small long at 1876.5, the hourly NLBL which is good a few hours into the open.
Basically the same formation over on the NQ – both trigger and stop are on the chart. FWIW – although I like to trade with the trend as opposed to against it I have no directional bias here and would love to play the downside as well. But I simply don’t see a technical entry right here and now. That may of course change over the next few hours.
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Cheers,
