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Inflection Points
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Inflection Points

by The MoleMay 28, 2015

Total snooze fest on the equities side, so we sit and wait. However, I have stumbled across some juicy inflection points today – excellent context, if you happen to pay attention. Which is exactly what you guys pay me the big bucks for – oh wait – actually you don’t. So never mind…

2015-05-28_NQ_update

Just kidding, you all know I love to spoil my market minions. Let’s kick it off with the NQ which in my view is leading the spoos right now. It’s screwing around here below its daily NLBL at 4542 but we all know what’ll happen if it manages to push above it. I give you a hint – it involves the bears and a bucket of vaseline. Anyway, this looks like a decent ST short to me right now – until exactly 4542 which is when the big boys who were accumulating near 4460 are ready to punch it higher.

2015-05-28_EURUSD_update

EUR/USD – as I mentioned this morning, it’s the trade I love to hate. Oh please – can you finally drop and go to par? I would like that so very very much. Which is exactly why it damn bloody won’t happen. So I’m still long this biatch with a stop below the weekly NLSL. If that one gives we have a respectable chance to drop lower but even then there are still two more active NLSLs below. Not impossible nah – but as I said above – I want it way too much for it to happen. My own emotion is my best contrarian indicator.

2015-05-28_gold_update

Gold also looking pretty attractive here – that hobby diagonal I drew is a bit on the soft side but somehow seems to be magnetic. The June contract has been a major pain in the rectum and let’s keep our fingers crossed for a bit more directional tape after the roll over. I’m long the August contract with a stop below the recent lows.

Not much else to report for today. If the tape is putting you to sleep then the tune above may be of service – if nothing else it may dust out your subwoovers. But make sure there are no small children or pets in your vicinity – it is certainly evil as heck and Mole approved.

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Cheers,


About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
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