Short Term Setups
Short Term Setups
I am running a little late this morning but there’s a lot going on, so let’s get to it. Equities are still near our inflection point but I just noticed that we have additional context courtesy of the weekly panel:
Things are slowly coming into focus here and despite the recent gyrations we can rely on the following:
- We are obviously in a sideways range spanning 100 handles between inflection points near 2080 and 1980.
- Currently we are painting higher highs and higher lows, that is positive for the bulls.
- We have not seen clear rejection but things will have to proceed higher by the EOW.
- The weekly panel dons a NLBL at 2082.5 – if we close above that on Friday we’ll have ourselves a weekly buy signal.
The YM is offering pretty nice ST context this morning. I’m already exposed but if you’re looking for entries you may want to use that cluster of NLBLs and be long above YM 17791.
AUD/CAD – long above the NLBL with a stop below 0.974 and change.
More below the fold – please step into my lair:
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Cheers,
