Monday Night Quicky

I just got off a long phone call with someone in the U.S. and now I’m running a bit late over here in Valencia. So I hope you can forgive me if I’m running us through the charts quickly – Mrs. Evil is not known to be very forgiving if I let her dinner get cold. And yes, she actually cooks – a rare skill to be found these days.

The E-Mini managed to tickle the daily NLBL at 2114.75 but then promptly reversed. That’s not unusual really and we could easily see another retest of the 2100 mark. I think the bulls are golden above 2112.25 – in between that and 2100 we are a bit in limbo as we have not seen a real break out yet. Below 2100 we may just make a another trip toward the 100-day SMA. Frankly I have no idea what scenario will transpire – best I was able to do was to grab a good seat on the NQ and the rest is in the hands of Mrs. Market.

Cable – heck, I’m going long here as we’ve dropped like a rock and are now on top of the 100-day SMA and a NLSL. The path below is plastered with more NetLines and I think the easy part of the journey down is over. Does not mean this is a guaranteed entry – but it’s a justifiable one.

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Alright – that’s all for today – see you guys tomorrow. Remember we have a bit of event risk on the roster – AUD, NZD, and of course the non manufacturing PMI numbers for April right after the close.

Cheers,