Drop The Baseline
Having been on the road until Tuesday I just realized that we’re heading into a long weekend. I suspect most of you are already on the way out or won’t catch this before Sunday night. So let’s dive right in:
The VIX Buy signal we triggered on Tuesday seems to be proceeding nicely. Worth noting is the fact that we have rapidly descended back toward a baseline near VIX 13.5 which only recently was breached. That’s quite a volatility squeeze and if you were caught with puts (and even calls) near the bottom and didn’t get out then your premiums aren’t worth jack at this point.
On the spoos we are heading toward a NLBL which represents our first technical hurdle. Nothing else to see here…
Our GBP/JPY correlation seems to be supportive – it’s served us well again this week.
My YM entry this morning has paid off very handsomely and I’m taking it off the table now as we’re touching a NLBL on the daily panel. Good chance for a little shake out here.
I know it’s a long weekend and all but I actually ran into some very nice setups. Please join me in the lair:
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Per today’s theme I’m kicking off your Easter weekend in style by dropping a real bassline:
And another one – as it’s a three day weekend – wohoo!
Make sure no pets or younglings are nearby then grab a cold one and crank these suckers up. Wishing you all a fabulous weekend – see you guys next Monday!