I’m way to tired to absorb Volar’s fabulous post right now but will make sure to peruse it over the weekend. Despite a slightly exhausted disposition I was able to scrape together enough Mole mojo to tack on a few solid setups here.
In case you care I am reporting today from a little manoir near the Spanish Pyrenees. The desk donning my remote evil lair gear only gives you a slight hint of the medieval surroundings I call home tonight. But on to the charts – we are getting near the weekly close:
Most likely we’ll get yet another inside day on the SPX – and I’m sure you all know what to do. If not please consult the Evil Speculator cheat sheet.
Sorry guys but the VIX buy signal is bust – over and out. We got the first two candles according to the rules but today’s pop higher kills the setup. Doesn’t mean the tape can’t go up here but there’s no add-improving VIX buy signal to hang our hats on. Next.
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Sugar is starting to look pretty sour here – at minimum it’s all shot to hell and may be ready for a bounce. I’m watching that hourly and of course the lower 25-day BB line for a chance to get long. May be best to wait for another candle – it’s a bit tough to step in here. Again, watch the hourly for an inside BB reversal.
Bonds are back at the 100-day SMA and I’m still short here. May be a good opportunity to add positions with minimal upside risk. Of course it goes without saying that a breach of that 100-day SMA would be bullish and get me to flip this setup.
USD/JPY – it’s starting to look like a floor pattern here – I personally prefer intricate tiling. I think a long here is permissible with a stop a few pips below. Le’s see if we get handed the run around or will be able to enjoy a bust higher.
Last one before I hang up my hat for the week – USD/CHF is almost back at the 100-day and a daily NLSL. The latter of which also lines up with the upper 100-hour BB on the left side. I say – come to daddy – and will try a short near 0.9228.
Enjoy your weekends!