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.
I have literally labored all through the weekend and am completely exhausted. So this is going to be a quick one as I need to hit the gym and engage in some stress absorbing activities. The spoos are looking like a nice long here – stop below the now rising 100-hour SMa. Below it I would not consider a short with a stop around 2087 (i.e. the 100-day SMA which is looking solid).
The NQ pretty much in the same configuration. Also taking out a small long position here but I would not go short when stopped out.
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A bit of event risk this morning half an hour after the NYSE open, so watch your six if you’re holding USD related pairs. Catch you in a few hours.