Quiet Friday 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.

Quiet morning as we are in sideways mode right below the 100-day SMA on the SPX. My little put hedge near the 25-day was quickly resolved yesterday and today I decided to not mess with my ongoing long campaign. I think the odds here are very mixed and unless we push back toward the 100-day I would stay out of this until Monday.

Short term setups: The AUD/USD is looking interesting and if it manages to breach this diagonal resistance line I’ll be long with a stop below its 100-hour SMA.

The 10-year bond futures actually painting a similar formation although here we would have to deal with the 100-hour SMA a few ticks above. Nevertheless I would try a long here on a pop above the diagonal – trigger and ISL on the chart. Otherwise it’s pretty quiet this morning – let’s see what the afternoon brings.

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Cheers,