Back To Business

That’s it – I don’t want to hear another word about hurricanes, Halloween, or presidential elections. Quite frankly I’ve had more than my fill at this point and the sooner we get back to business the better. Of course right after Halloween we will have to put up with all that X-Mas misery. How damn jolly can you people get every year? And stop the singing already – it’s like cryptonite! Anyway, we’ve got coin to bank – plenty of of setups out there if you pay attention:

Silver right at a NLBL which conveniently expires today. It’s been keeping a low profile for the past week avoiding any contact. Meanwhile on the hourly we are touching resistance but it’s looking strong. I would prefer a pass by the NLBL tomorrow which would lead us higher.

Copper – here’s the daily and the weekly as we are touching support on both. Great long setup right now – a failure this Friday may lead us lower.

Bonds – the 30-year is pretending to look busy. I see a great setup here at the 100-day SMA. The 25 has been nicely cleared and this should be the last hurdle before a bust higher. If it fails (i.e. we close below today or drop back below in the next two days) then I want to be short here.

More where that came from – please join me in my hurricane proof trading lair:
[amprotect=nonmember] More charts and non-biased commentary below for anyone donning a secret decoder ring. If you are interested in becoming a Gold member then don’t waste time and sign up here. And if you are a Zero or Geronimo subscriber it includes access to all Gold posts, so you actually get double the bang for your buck.
[/amprotect] [amprotect=1,13,9,12,5]

The 10-year has been bouncing against the 100-day for months now. Then it dropped and found some support at the lower BB. Now we are back at the 25-day SMA and if we hold here then I think we are good for a push back to the 100. What happens there should be extremely interesting – assuming we get there of course.

Corn at resistance – it’s kind of wedged in here so I’m very curious how this resolves. If you have been trading along for a while then you still ought to be long at this point. This should be our final test – if it can’t overcome this NLBL then I would probably recommend letting this one go.

USD/CAD – excellent long setup here – the breach of par would be my trigger.

NZD/USD breaching resistance – it kind of snug by the NLBL and it’s now pushing above the SMA. Good long with a stop below the SMA.

Cable back at the diagonal resistance line on the daily. It’s also pushing into some overhead resistance on the hourly. I want to be cautiously long here with a stop below the 100-hour SMA. If you want to be short then put your stop a handle or two above that diagonal.

EUR/USD – slowly plotting support but it won’t put a fast one on the Mole – no sirree. I see some hourly support now as well and thus think we do have a defensible long here. Stop below the diagonal but I have to concede that I would have preferred it yesterday morning. Damn that storm season…

CAD/JPY right at hourly resistance plus daily resistance. Short right now but it’s possible we’ll be pushing higher, I would have little compunction about flipping if we do.

AUD/USD also tickling its NLBL which expires tomorrow. It’s looking strong so I want to be long here. If we fail then our next support is the 25-day, thus I would not want to be short.

Cheers,