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SPOOS2K
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SPOOS2K

by The MoleFebruary 2, 2015

Welcome back to the jungle! Equities are still dangling by a thread here and the short term chart shows us a binary entry opportunity on the spoos which I intend to throw 1/4R at (I’m still short as you recall).

2015-02-02_spoos_briefing

I think the 2k mark on the E-Mini is our big line in the sand now. If you want to be short then you’ve got the 25-hour and a NLBL Β at 1996 just above you. If that’s breached and held then I think we’re sending the monks on yet another ride around the roller coaster.

2015-02-02_events

By the way, watch out around 10:00am EST this morning as we’re getting the ISM numbers for January. Should be good for a little jolt or two.

I was able to dig up two more short term setups this morning but am keeping those for my intrepid subs:

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You have been briefed – now have fun but keep it frosty. See you guys later this afternoon.

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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  • Bob the Horse

    Fwiw, I think we are pretty close to the lows for Copper now. Still would prefer to be on the sidelines looking for a better entry but most of what I have been looking for is happening – we broke the overnight lows from earlier in the month which cleans things up a bit, oil has stopped collapsing (it doesn’t need to go up but it can’t be falling $2 a day), we have almost recrod levels of open interest in Shanghai which suggests traders are very exposed to a rally over Chinese New Year. It’s still a tough mkt that you don’t want to buy on green though but I would be looking for long entries over the next week or so.

  • BobbyLow

    Mornin Folks, TGIM πŸ™‚

    No change in positions since COB Friday – Still long Crude Via UCO and Short DJUSEN Via DUG for now. Feels like kind of a wierd combination but it is what it is.

    Stalking Forex but nothing turning me on just yet.

  • M E

    Morning everyone, still in my Friday positions – Short Nasdaq and expecting lots of shenanigans this week!

  • https://evilspeculator.com molecool

    Yo, you got my email?

  • dragan ilic

    2003 seems to be a key pivot

  • BobbyLow

    Now Short GBP/JPY

  • BobbyLow

    Monks are running!

  • Darkthirty

    USW refiner strikes could prove the catalyst for crude…pun intended

  • BobbyLow

    Out on DUG -.25 R.

    Long DIG

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    inside candles, but get above $52?
    squeeze, IMHO.

    http://stockcharts.com/h-sc/ui?s=DIG&p=D&yr=0&mn=3&dy=0&id=p69611776588

    -GG

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    Bullish Percentage slipping some more.
    Game over man, GAME OVER πŸ˜‰

    http://s3.postimg.org/cxjd5jk77/alien_game.png

  • BobbyLow

    Coud be GG. It’s been all over the place today. I’m trying to go with the flow. One of these times the Flow is going to stick. πŸ™‚

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    that’s why I mentioned inside candles (of that larger one).
    indecision is the hint, assuming I was trained correctly.
    πŸ™‚

  • ridingwaves

    in the past a Super Bowl low on 2/2 has an upside trend to 2/6 before retrace

  • M E

    Love dem arrows

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • jmoney3000

    Awesome div on the hourly Zero this morning as ES was making new lows

  • M E

    back to the 2K mark

  • https://evilspeculator.com molecool

    And if you think they couldn’t drag this out any longer they prove you wrong yet again! πŸ™‚

  • Darkthirty

    NAZ choke watch for a flash today

  • https://evilspeculator.com molecool

    VERY NICE!

  • https://evilspeculator.com molecool

    F…ing disqus…

  • mugabe

    that’s right- impossible to trade the market while ‘they’ are in control. Please tell Scott that ‘they’ do exist πŸ™‚

  • mugabe

    that’s what I call horse sense

  • Bob the Horse

    yes – must have missed the previous one, apols.

  • Darkthirty

    Don’t waste your breath

  • https://evilspeculator.com molecool

    No worries – let’s connect sometime this week then.

  • https://evilspeculator.com molecool

    Oh, I’m trading this market. And ‘they’ are always in control.

  • squirrelsome

    Crude is getting… agitated.

  • Skynard

    Bears about to throw down:) Dollar not so hot data today, see what AUD data brings tonight.

  • squirrelsome

    there you go

  • https://evilspeculator.com molecool

    Not seeing that right now….

  • Skynard

    Was thinking of buying the dip today, remained short since bears seem to be getting stronger.

  • M E

    Falling off the plate. Kinda perfect, really. Hit 2000 and change and headed straight down.

  • M E

    Why do the arrows sometime disappear?

  • Skynard

    According to Mole they indicate exhaustion to one side or the other. Would ignore them on trend days.

  • Skynard

    We have a tiny div on the 5 min.

  • M E

    we just had 2 arrows disappear today, both an up and a down arrow

  • Skynard

    What I am paying attention to right now is that we are below VWAP and also below the signal line. Above both would indicate a buying opp.

  • Darkthirty

    data feeds are stalling, screws up TA. Got me jumping too

  • https://evilspeculator.com molecool

    Are we looking at the same chart?

  • https://evilspeculator.com molecool

    I don’t understand your system. Are you long or short?

  • Skynard

    Still short, moved stiops above your 2K mark

  • captainboom

    Technically, you should wait for the completion of the 5 min candle for the blue arrow signal to be valid. Same is true for the white Zero line.

  • https://evilspeculator.com molecool

    Yup.

  • BobbyLow

    Speaking of waiting for candle completions, no matter what system/time frame, I’ve got burned way to many times jumping the gun and not waiting for a candle to complete. I don’t care if it’s a 5 Minute, 30 minute, Hourly, Daily or whatever.

    For every successful jump, I’ve probably been burned 5 times where I could have achieved a better price by waiting or would not have entered the trade at all if I had waited for the candle to complete. The only exception for me is when I put in an advance order if and when breaking a high/low at a specific price.

  • Darkthirty

    ready to pop….or drop

  • https://evilspeculator.com molecool

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