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One Measly Chart
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One Measly Chart

One Measly Chart

by The MoleJuly 30, 2013

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.

Across the spectrum the tape is looking a bit aimless early this morning. IMNSHO the only chart worth mentioning appears to be the E-Mini which is back at the 1687 sell off zone that has produced a slightly falling sequence of unconquered NLBLs starting last Thursday. Well, this time we are actually above the current NLBL of 1686.25, so perhaps after frustrating the heck out of everyone the bulls may just make a run for it.

I’m currently long with a stop below 1685. A very speculative position, thus I’m in it with only 0.5R. No sense to get mentally or emotionally involved here – it’s the dreaded summer tape after all. But like everything, even this shall pass 😉

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Cheers,

About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
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