Dude Where’s My Moto?
Dude Where’s My Moto?
As some of you already know I started the day dealing with a family emergency but it didn’t stop there. Just when I thought that I had a lid on things and got ready to hit the gym for some much needed stress relieve I realized that someone had grifted my moto overnight. You should have seen my face as I was standing there with my helmet in my hand and cursing like a sailor with turrets. I thought it couldn’t get much worse but somehow this day continued to prove me wrong. Well, I’ll spare you the ugly details – nobody likes a cry baby.
Although the Spanish cops don’t have the notoriety of the LAPD I have a feeling they won’t have any problems identifying the ole’ Mole mobile – it has some rather distinguishing features. Well, as the universe seems to have it out for me today I better treat carefully and keep a low profile. So forgive me if I run through today’s charts quickly so that I can curl up somewhere and lick my psychological wounds 😉
Quick update on CAD/CHF which triggered today. We are about 0.7R in and nothing really happens until we touch 0.8058’1. If we close above it we’ll advance our stop to the 1R mark – if we push above it and closer below it we will exit EOD.
Equities are still on the run and thus far the 25-hour has been holding like a champ. There’s the 100-day BB approaching above and it may mean soft resistance.
The volume profile is running thin but that doesn’t mean that some headline event tomorrow can’t pop it higher. You know how the cookie crumbles.
Possible Failed Shooting Star setup on the NQ starting tonight. I’m not holding my breath but it’s the only ticket on the equities side right now.
I do however think that the bulls may have gotten a bit ahead of themselves here, so I recommend caution on the long side. For example here is the NYSE advancing/declining ratio which is dropping against a rising SPX.
But I got more where that came from – please join me in the lair:
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Alright, that’s all I got for today – time to release the hounds!