This is the kind of tape I live to see – plenty of setups and everything seems to have come into sync. Before we do the roll call a quick word about that Zero outage. I have been working behind the scenes to fix these intermittent hickups which started when I moved my setup over to some ThinkGrid virtual machines. Little did I know that they would be rebooting things in the middle of the night plus there are other headaches I had to sort out. It’s been very time consuming on my end and because of that I decided to move things over to my own server which will run in a different data center. This whole ThinkGrid computing cloud thing simply doesn’t seem to work for the evil Mole. Anyway, I’m going to keep you posted – most likely I will roll things to the new data center over the weekend. Your patience is much appreciated.
The spoos jumped back a bit earlier than I expected – but it makes complete sense if you have been watching the currency side (which we have). More on that below – but for the subs only – sorry. If you’re long here than watch that 100-hour SMA – should be good for a bit of turbulence and a breach is essential to drive things higher, at least until we get to that first daily NLBL.
The VIX dropped like a rock today and if you sold vega on Friday (perhaps via a reverse calendar spread) then you should be nicely in the green. If you missed out then you may still appreciate the fact that we are now again 2 steps into a bonafide VIX buy signal (yes, it’s relative to equities – please check the cheat sheet). Tomorrow we wait for confirmation – until then do not second guess where this is heading.
Ole’ bucky seems in the process of a correction – we are most likely going to close below that daily NLSL. I’m still not sure about a target as there’s not much below to hang our hats on. You can be short here with a stop right above that NLSL.
Alright – I have a ton of setups for you guys – please step into my summer lair:[amprotect=nonmember] More charts and cynical commentary below for anyone donning a secret decoder ring. If you are interested in becoming a Gold member then don’t waste time and sign up here. And if you are a Zero or Geronimo subscriber it includes access to all Gold posts, so you actually get double the bang for your buck.
AUD/JPY is such a trooper – we like it when the are so well behaved. Nice touch of the support zone and….
… inside day! As you may imagine I’m only interested in the long side right now.
CAD/JPY – inside day – I plan to take either side.
EUR/AUD – nice push outside that BB and a immediate snapback.
Plus there’s an inside day! How could we pass this one up? Especially with such a small trigger candle. I would only take the downside here – per Scott’s rules.
NZD/USD – also inside day. You know what to do.
Gold snapped back after scaring the children there for a while. Now back at the NLBL it breached on Friday. Me like!!
Silver – inside day! But mind that resistance looming just above – we may bounce back there.
Here’s a better perspective. This is a good long until we get stopped out below that NLBL at 1,585.8.
Natgas – another inside day – when it rains it pours. I would take either side on this one.
And then there’s soybeans – another nice inside day setup. I am slightly partial to a long reversal here but would take either direction.
That ought to keep you guys busy for a while![/amprotect]
Before I run I just want to point out how stoked I am to see such brilliant scalp signals on the Mole the day after I released the new version:
Not too shabby, ain’t it? Let’s see if we can keep this up!