Symbol Salad

While equities are busy squeezing the bears out of their last pennies we’ll catch up with some of our recent runners. After that let’s go off-roading – we’ve got some FX goodies and a few interesting stock symbols for your eclectic tastes.

We’ll start with crude which I suspected yesterday may paint a ‘last kiss goodbye’ move. We even got a nice early morning entry near an hourly NLSL (which this TOS chart doesn’t show, probably due to some data differences – it was at 90.52 on my Ninja chart). Thus far the entry looks like it’s good to go and I suggest you do nothing in expectation of a continuation lower. As the trend traders taught me a long time ago – sell low and buy high (yes, that’s a bit of a mind bender, I admit – we’ll get you there).

USD/CHF – not sure if you guys recall but we got into a long on that one in late February. Been banking coin ever since and I’m now cutting the cord as we’re running into resistance across the board (hourly/daily/weekly). Not ready to dip into shorts just yet.

NZD/JPY approaching its 25-day SMA. I give a breach a 50% chance which obviously doesn’t mean much. However, there’s a NLSL below and even if it drops there’s good chance of a bounce. So for now I’ll wait for a long breach here.

GBP/CHF – might have painted a floor here and its 25-day SMA will be the acid test.

Stocks – didn’t find much to my surprise. But if you’re feeling lucky here’s WYNN which has been holding up nicely near its 100-day SMA. The weekly is battling both its 25-w and 100-w SMAs. So far I’m long with a stop below all that support. Come on! Snake eyes!!!

PCP bumping into upper daily BB plus there’s that weekly NLBL that has already acted up. Short here right now with a stop below but willing to flip as it’s looking positive in general.

Last but not least – the stock that everyone learned to love and now loves to hate. It’s been a bit confused over the past few weeks and hence the 100-day and 25-day are putting into a choke-hold. Throw a daily NLBL into the mix and we’ve got ourselves a nice inflection point.

That’s all for today – no go and play nice but keep it frosty!

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Cheers,