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.
Welcome back folks – we’ve got a busy morning today. Ivan reminded us this morning that we now have an RTV-S active for the remainder of the session. The trigger is at SPX 1752.7, so we’ll need a drop below that today. FYI – the count has just begun and if we push sideways today then we may get another trigger for tomorrow. I will keep you posted on this of course.
On the short term side the spoos are approaching the 100-hour SMA and I’m also seeing a beautiful falling diagonal which now is only a few ticks away. I’d be happily long if the ES manages to crawl above 1759. Despite my comment on the chart I actually think this is a good spot to be short here right now with a stop a few ticks higher. OR you can be conservative and be short if we fall below 1756 (as per the chart).
However, my favorite of the day is not the ES but the NQ – please step into my lair:
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