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.

Equities held their ground over night and if you’re not exposed yet then you may want to hitch a ride on a retest of the 25-hour SMA – we also have a few Net-Line Sell Levels there.

The better setup IMNSHO is the NQ – seamed by two Net-Lines and you can be long above 4402 or short below 4390 – tight little range.

Soybeans – I’m taking out a long here with a stop below 949. If stopped out then I’m flipping for a short with a stop above 953.5. I actually think this one goes to the downside but until then this is a great inflection point for a surprise bounce. 1/2R only – so let’s see what happens.

See you guys in the afternoon.

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Cheers,