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Monday Morning Briefing
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Monday Morning Briefing

by The MoleFebruary 3, 2014

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.

Although the daily context remains best on the E-Mini short term setups are to be found elsewhere this morning. The YM is scraping upside diagonal resistance right now but I would not use that as a long entry as there’s insufficient context. However if it drops back below the 25-hour I would be short with a stop above the diagonal. Triggers on the chart.

The NQ is more even and offers us a good long entry should it decide to first breach its NLBL and then the horizontal a few ticks above. Put your stop below the 25-hour or 100-hour if you want to be more conservative.

The TF has enough for a bi-directional play – inflection point is the 100-hour which will soon meet the slightly falling diagonal above. My preference here would be an entry shortly after the open. Again the triggers are on the chart.

This is going to be a very exciting week and we are kicking things off in style – please join me in the lair:

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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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