Do Not Touch!

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.

The spoos are leading higher this morning and didn’t even bother touching the 25-hour SMA. Quite a lot of mojo and if you’re long after the NLBL breach two days ago then I would simply continue holding but keep an eye on the SMA for early signs of trouble. The more interesting chart this morning however is the YM:

Which has been lagging both the NQ and ES in recent days – as a matter of fact compared to those two it really never got out of the gate. Now what’s really interesting here is the fact that it is barely hanging on to its own 25-hour right now and that the 25-hour BB is compressing rapidly. Which means that we are most likely about to see a jump in volatility here shortly – either today or Sunday night. I would prefer to see resolution today of course and will keep  a close eye on this one for signs of a take off or failure of holding that SMA.

AUD/JPY – very nice setup this morning as it’s kissing its 100-hour SMA as well as an hourly NLBL right now. For me this is pretty much procedural – long on a breach higher and short below the SMA.

I’m thinking continuation lower here on the NZD/USD and would not take on any long positions unless it manages to climb into 0.7885. That 25-hour SMA has been providing soft resistance – of course one can never rule out a sudden jump to the upper 25-h Bollinger. Which is falling hard and fast at this point, so any break higher may have difficulty getting out of the gate before next week.

Shameless Plug:

Yesterday’s Mole reversal signals via the Zero indicator running against the spoos. The first ones are to be ignored as there was a TOS data outage. Doesn’t happen often but it’s something I intend to fix once I’m done with releasing Crazy.Ivan.

It’s not too late – learn how to consistently bank coin without news, drama, and all the 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.

Cheers,