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.
Here’s a snapshot of Friday’s E-Mini session via the Zero indicator. Once more we’re saw excellent swing trading opportunities. Not every day is that excellent but we had more than our share in the past few weeks.
The spoos have now been stuck in a sideways formation for the past three sessions. As I mentioned above the upside were great swing trading opportunities but that may change soon as the 100-hour is about to meet the 25-hour SMA. Great inflection point and I intend to be long above the 25-hour and short below the 100-hour (where we are right now).
Gold has been slowly sliding lower and is now facing a pretty significant cluster of upside resistance. IF it can push above about 1437 a long position will be almost compulsory for me, until then I will remain short.
The greenback is slipping and has now give up its 25-hour SMA. I won’t be long again until/if it pops above 83.4.
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