Everything Slows Down On The Road

It’s already been a pretty tumultuous day on my end. As I’m six hours ahead of NY I watched the open and realized that for some reason the system running TOS was not updating. Of course – Murphy’s Law never fails. Restarted the system remotely but then forgot to switch on the darn screen scraper. Turned that one back on and then left – only to return two hours later and seeing the Zero stuck again. The culprit this time is the logmein app which somehow locks up the system unless you log out of your remote session. I mean – how dumb is that?

This is my ‘not so evil’ lair in Madrid. My trusted lappy and two iPads – the resolution on the new one kicks mighty butt. I tried to connect it to my Mac Book via Air Display and it works but the refresh rate goes down to one frame per second. NOT going to work that. So I instead remote into my systems via logmein – and that’s how I guess the Zero got locked up today. Anyway, long story is that everyone hates the Mole today but he promises that the rest of the week is going to go smoother. It’s always about precise procedures – especially when on the road. You can envision the Mole going through his pre and post flight check list every morning and afternoon now 😉

So we’re sitting right at that volume hole again and you guy are probably wondering if we fall off the plate here. Except for another volume hole near 1355 there’s not much on this chart that offers support until 1360.

The hourly Net-Lines chart is a bit more expressive. 1375 seems to be where the rubber meets the road – we painted two NLSL there thus far and they held up each time. Thus far. Also note tat we are tickling the 25-hour SMA right now – definitely a level to watch.

Nothing on the daily NLSL chart – we sliced through a NLSL and quite frankly, if this punches higher into the close but with little participation (i.e. watch the Zero on that) then I would want to be short on a retest of that NLSL.

A few more goodies below for the subs – I may be in España but that doesn’t mean I am out of commission ;-P

Crude – right at the knife’s edge again and it looks like she may go down. I would wach that hourly NLBL if you are short. Of course a breach above the 100-day SMA would be bullish as this would be a fourth failed attempt. Not saying it will fail now – just to be clear – but if it does then it’s mighty bullish. Good setup with little risk IMNSHO – either way. Have fun with it.

Silver – pretty much stuck below the bad side of its 100-day SMA plus the 25-day is now drooping. I would be (or remain) short here until told otherwise by a breach above that daily NLSL.

The now un-mighty Dollar has been pretty much stuck in sideways gyration mode for the past few weeks. Annoying for long term traders but it’s manna from heaven if you like to play the swings. I may try a long here if we drop to that daily NLSL but right now we seem to be holding near the 100-hour SMA and that could be good for a grabbing a few ticks/pips (depending if you play FX or the CME futures).

Alright – as everything slows down on the road let me parse around and tack on any other setups I may run into. You may want to reload this page in the next hour or two. And my apologies again for the technical issues earlier today – your patience is appreciated.

UPDATE 3:00pm EDT: Nice little setup on corn futures it seems:

It’s sitting right at its 25-day SMA. Nice spot to be long with minimal risk. Watch that lower 100-hour BB for possible support. If she goes down anyway it’s permissible to flip this trade as we would be clear into 630.

EUR/JPY – I know I’m all over the place today – I am working with a limited setup, sorry. Anyway, nice bounce here – I would be long on a retest as I obviously missed this trade while I was running all over Madrid trying to buy a trajera SIM.

I’m happy to see that the EUR/USD backs up my DX setup – same game here, so watch that 100-hour SMA. This could be a very nice one if it breaches, so pay attention.

And last but not least – unless a miracle happens by the close of the session we are one step into a VIX buy signal (relative to equities noobs! – check the cheat sheet). You know what to do – and you know what NOT to do (hint: being overly delta negative).

Cheers,