Friday 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.

The spoos have sold off a bit overnight and we are now right at the 100-hr SMA. A bounce or breach here should determine the weather for the coming NYSE session. I am long here with a stop below the SMA – if taken out I will flip positions expecting a more extended sell off.
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Bonds – the 30-year and the 10-year are both at the upper 25-hr BB. In the past week this one has only been touched once so I’m curious as to what happens here. Obviously the small BB is starting to flatten and this could be the beginning of a reversal on the bond side. Excellent entry point here for short term positions or to get early exposure for longer term trades.

Copper has been losing some of its shine but there may be support near 3.677. Wait for it and expect a bit of an overshoot.

Cotton seems to be observing the 25-hr SMA – let’s see if this continues.

USD/CHF right at the ST Maginot Line – a breach here could push us higher.

NZD/USD – watch the 25-hr SMA, thus far it seems to act like a brick wall. Also note that we should meet the 100-hr here today  – this should be interesting.

Cheers,