About Damn Time!

I can’t believe I actually gave this setup away for free – what was I thinking? A temporary moment of weakness and it may be time to increase the dosage on all those experimental meds I’m taking.

As the old saying goes – you snooze you lose. And let the record state that inside-inside days are excellent setups – if you were a sub in the past two days you are (hopefully) sitting on a sack of green. If you didn’t take this one on Monday night then you only have yourself to blame. After all I armed you guys with inflection points on the AUD/JPY and the spoos. Now let’s see if this thing has legs – I’m making this a public service today as things are moving rapidly.

Ozzi/Yen – near some support. Odds are we’ll be holding here unless we see a breach below 84.50.

Euro/Dollar – boy that is starting to look ugly and even we pop higher later today that 100-day SMA will pose some mighty resistance. Good chance we’ll go to 1.3.

Dollar/Loonie – very good odds we are pushing into 1.0048 here. More remarkable: We are back above par – wohooo! Suck it you barbarians in the North!

Dollar/Swiss – major break out here and my target area is 0.925.

Cable – also near support and if 1.572 breaks we are going to 1.566. I know – big difference and I think the odds are good for support somewhere around there. If not, well – suffice to say it would get ugly.

Kiwi/Dollar – Oy!!! Come to daddy! Boy that was a great entry and I’m a bit stunned it sliced through all that support like this.

Spoos now looking very ugly and we could be slipping toward 1320 unless we see the marines storm the beaches later in the day.

Despite all the intra-day hoopla the long term chart is worth noting however. The weekly SPX is now at support and if we slip below 1336 then we may be visiting 1300. So this is make or break territory, folks!

As you can see the time stamp on all those charts is over half an hour old – really sorry about that. I have been trying to put this post together while my server was literally craaaawling. It’s been frustrating to the max and you can imagine I’m not a happy camper over here.

Cheers,