Monday 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.

Looks like silver is limping behind gold this morning as the latter just dropped below its 25-hour SMA. I’m short here with a stop above the 100-hour SMA. Not sure how long this one will be valid as the pace is starting to pick up.
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Bonds – the 30-year is frolicking on its 25-hour SMA and so far it’s holding. I’m long here with a stop below that hourly NLSL. However if this one can’t get its groove on and bust higher I’ll be out by the time the NLSL expires (mid NYSE session today).

Crude – got to take this one – long at the 100-hour, short if she drops below. Fortunately the hourly NLBL looming above is about to expire.

USD/JPY – long with a stop below the NLSL – same plan as above, meaning it better get moving in the next few hours or I’m out. I’d be short on a drop below the 100-hour.

USD/CAD is doing the 25-hour SMA limbo and thus far it hasn’t pushed above. Interesting and I’m short with a stop above the 100-hour SMA, which fortunately is still dropping, thus working on our side.

Cheers,