Let’s Rock’n Roll!

Now that’s what I call a good post holiday kick off. We’ve got a textbook entry on the NQ this morning and it already banked us some mighty coin. Not bad for a few hours of work – in case you missed it (shame on you) let’s review:

We saw a similar configuration across the equities trifecta this morning but it was uniquely aligned on the NQ as the diagonal resistance line lined up with both upper Bollingers. Easy entry with stop a bagel throw away. The rest is history as it made a b-line toward its 100-hour – quite a bit faster than I had anticipated. I took partial profits once it had stabbed below its 100-hour and left a few positions on the table for possible continuation lower. However, that didn’t happen and I was fully stopped out about 30 minutes ago as it shot back above its 100-hour. And that’s how the cookie crumbles.

Since we’re talking equities let me slip this one in really quick: My SPX P&F chart painted a triple top breakout last week and that has elevated our bullish price objective to 1675 now – over 100 handles away. My condolences to all Slopers and ZeroEdgers for four years of pain and counting – perhaps it’ll be some consolation that I continue to spend your money most unwisely – snark! 😉

We’ve got super juicy setups on the FX front today – here’s one I absolutely adore. GBP/USD – coiling up on the daily panel and it’s near its upper 25-day BB. The weekly has us creeping above a NLBL and a continuation higher would probably confirm the floor pattern here. Not a bad setup on the downside either – it’s really hard to mess this one up so stick with the entries on the chart.

I’ll throw another one to the leeches – here’s the 10-year futures contract (ZN) right at its 100-day SMA. The weekly puts us just at the 25-w SMA and I consider this a great inflection point, again in either direction.

More fun to come – AAA setups on the roster today – please step into my lair:

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Cheers,