Monday Morning Briefing
I’m back from my weekend get-away and much to my shame I was looking forward to getting back to the lair most of the time I was gone. What the hell is wrong with me? Well, we’ve got very interesting tape unfolding this morning which means we’re going to hit the ground running. But first let’s get up to speed on what’s happening on the equities side:
After a rather eventless looking Friday (good timing on taking the day off) we seem to be slowly descending lower. Damn you Skynard! 😉
Anyway, we are looking at soft support here between the weekly NLSL and the 100-day SMA near 2080. I know that’s a 20 handle window but I can’t offer anything that’s not on my chart.
The YM is looking a bit more productive actually. It’s already trading below its 100-day SMA and the next weekly NLSL is at 17690 (typo on chart). Which means I wouldn’t think about long positions before we descend into that range.
Soybeans is looking like it wants to continue higher plus volatility is expected to jump here soon. I’m long with a stop below 937.
AUD/CAD – long here as well with a stop below 0.9460. I would prefer to be below the spike low but that’s a bit too far away, so I’m taking a little chance here.
CAD/CHF – short here with a stop above 0.758. Again I would have preferred to be above the spike high but it’s a bit distant right now.
I have some very nice goodies for you subs – please meet me in the lair:
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In completely unrelated news: The German women team beat Ivory Coast 10:0. What are they feeding those gals?
In one of the pics you actually see one of them floating in the air. My money is on advanced genetic engineering… YOU GO… uuuuhhhh…. gals? 😉