No Gobinment Tuesday 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.

Here we go – Washington has shut down and I feel relieved already. Come on guys – big difference. It’s not that those clowns were actually getting anything done for the people. Thus far equity traders seem to agree as the futures are pretty serene about the whole thing. I like that SMA collision setup on the NQ – my triggers are on the chart.

The spoos now below both short term SMAs – I may try a long if she can crawl above that 25-hour. Until that happens a short with a stop a few ticks above that 25-hour may be worth a shot.

Bonds – this setup is actually still in the making and I think it’ll be excellent in a few hours from now. That 25-hour is descending from above and I’m waiting for a shot to go short there. A drop back below the 100-hour SMA would be confirmation that it’ll wiggle its way further down.

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Cheers,