Now Reading
Day Of Truth
29

Day Of Truth

Day Of Truth

by The MoleMarch 9, 2015

I’m running a bit late this morning as I have been shifting my circadian rhythm over the past week and am already operating/living on Eastern time. Fortuitously the change to daylight saving time yesterday works hugely in my favor as it shaves off yet another hour in preparation to my journey to Los Angeles.

It seems that we are at important turning or inflection points across various markets so I expect this to be a turbulent week. Some of you senior rats recall that every time the Mole travels we seem to experience big moves – so let’s see if my streak continues 😉

2015-03-09_spoos_briefing

The E-Mini managed to bounce toward its 25-hour SMA where it seems to meet resistance. We don’t have much context on this one right now but the NLSL at 2066.25 should be considered the gate to a significant drop lower. I am keeping my short positions as is and have moved my stop to break/even.

2015-03-09_nq_briefing

NQ futures look quite a bit more bearish this morning as we’re back near last week’s lows. Keep an eye on this one as it may be our canary in the coal mine in all things equities. However the reason why I titled this post ‘Day Of Truth’ is that the follow up days are the true measure of assessing potential trend changes. This thing has to continue lower today or, as we have seen so often, support will start establishing itself courtesy of a lackluster or sideways session. The onus is now on the bears to lead this lower. Watch the Zero for signs and/or lack of participation in either direction.

2015-03-09_GBPUSD_briefing

Cable – I want to be long above 1.512 – stop below 1.507.

2015-03-09_GC_briefing

Gold – I’m short here with a stop above 1175. The odds for a bit of whipsaw here are pretty significant which is why I’m only attributing 1/4R.

More below the fold – please join me in the lair:

evil_separator

It's not too late - learn how to consistently trade without worrying about the news, the clickbait, the daily drama and misinformation. If you are interested in becoming a subscriber then don't waste time and sign up here. The Zero indicator service also offers access to all Gold posts, so you actually get double the bang for your buck.

Please login or subscribe here to see the remainder of this post.

Alright – that should keep you guys busy for a while. See you guys later this afternoon.

Cheers,

About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
Enjoyed this post? Consider a small donation to keep those evil deeds coming!

BTC: 1MwMJifeBU3YziDoLLu8S54Vg4cbnJxvpL
BCH: qqxflhnr0jcfj4nejw75klmpcsfsp68exukcr0a29e
ETH: 0x9D0824b9553346df7EFB6B76DBAd1E2763bE6Ef1
LTC: LUuoD6sDWgbqSgnpo5hceYPnTD9MAvxi6c
PayPal: https://paypal.me/evilspeculator