Busy 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.

Watch the GBP/JPY correlation this morning. We had a spike higher courtesy of a series of positive news while you were still catching up on your much needed beauty sleep:

What I want to see now is what happens afterward and how it affects U.S. equities ahead of the opening bell.

Bonds are looking interesting this morning – I have two setups for you guys, one I’ll share with you leeches. ZB is making its way sideways after having been unable to push beyond a slightly falling diagonal which is now near 137’10. I was tempted to go short here with a stop above but I think it’s best to wait for one more retest of the diagonal. Short while it respects it and long if it makes it above.

The ZN however is a good entry right now – please meet me in the lair:

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And here’s the spike controller for you Forex traders:

You have been briefed – now have fun but keep it frosty. See you guys later this afternoon.

Cheers,