Monday Morning Briefing
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.
Equities have been holding the line over the weekend and we may see a bit of acceleration here as suggested by DarthMole. Just to reemphasize – unlike retail traders volatility measures do not suffer from directional bias. So there is no telling which way it’ll swing. However I don’t see anything on my charts that would prompt me to deviate from the current course, which is to trail my stop and to not second guess how far this puppy may run.
USD/ZAR near its 100-hour SMA and I’m short here with a stop above 11.00. Only 1/2R exposure as there isn’t much supporting context.
Many futures contracts rolled over last Friday and the pickings are slim but wheat is looking rather interesting here as support is starting to stack up. I’m long with a stop below the NLSL at 553.25.
Two more short term setups below the fold:
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You have been briefed – now have fun but keep it frosty. See you guys later this afternoon.
Cheers,