Last Line Of Defense

Equity futures are dangling by a thread right now with the E-Mini trading below the 2k mark again – odds suggest that by the time you read this we may already have plunged lower. Looks like the proverbial shit just got real in equities. Let’s observe:

My E-Mini triptych panel (hour/daily/zoom) shows us below the 100-day SMA and now testing the last NLSL at 1995.75. If it goes then we will most likely take out the previous lows and the implications of that in turn would be a pretty extended move lower. As I said yesterday – strap on your helmets and make sure that your seat belt and safety bar is securely fastened – this could get very ugly and that quick. Suffice to say that the Thor NQ campaign which almost got stopped out yesterday is now starting to look solid.

The Singapore Dollar vs the USD – I think this may be the first time I’m showing this pair here. Nice resistance zone near 1.3365 – I want to be long above it with a stop below 1.335.

AUD/CAD – if it overcomes the hourly NLBL at 0.9746 then I’ll be long with a stop below 0.968. Low odds of it happening but if it does then we may just slice through that 100-day SMA and start a second squeeze.

A special welcome goes out to Bob The Horse – a long lost steel rat and great contributor many years ago who decided to return to the old lair. Great timing Bob and good to have you back. Things are going to be wild this year and your experience and insights would be most valuable in our eternal quest for market domination.

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Cheers,