Drive By Equities Morning Briefing
Drive By Equities 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.
I’m a bit swamped this morning so I’ll only cover the equities side. The good news is that we’ve been holding the 100-hour overnight but I still don’t see genuine mojo here yet. The best context as of right now is our 25-hour SMA which up to right now has started to carry. But we need to get out of the gate in the coming hours unless the bulls want to sit through yet another shake out. I think any push above 1882 on the spoos raises the odds we’ll continue higher. If you’re long there’s nothing for you to do right now – keep your stop in place.
The NQ trade looking a bit more eager beaver as it has left the 100-hour behind and is now riding the 25-hour as well. Same considerations however – there is now room below for a retest of the 100-hour, so this thing needs to get going. Once again nothing to be done – given the volatility cycle we’re in we need to give this one enough room.
Some of yesterday’s entries are on their way as well (ZB, CAD/CHF) and I’ll probably cover them tonight – see you then.
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Cheers,