The Mother Load

I have a boatload of charts to lurking below today, so if you’re reading this on an iTampon then buckle up Dorothy because your mobile browser is going bye bye. As a matter of fact I would say that I have a veritable plethora of setups today:

That was enlightening! Let’s kick start things with the equity side – which quite frankly is the least interesting sector I’ll talk about today. Yes it’s going down and there may be a setup on the horizon – but really – we have been literally killing on the currency and commodity side for weeks now. So much so that I am starting to get a bit paranoid. Long winning streaks usually make me nervous – this is not supposed to be happening and when it happens you better keep your ego in check.

S&P 500 cash index – we are at the proverbial Maginot line now. A close and drop below that and I’ll see you at 1240. But let’s take a peek at Mr. VIX as it should be part of your equation.

Now that is the kind of stuff I was hoping for yesterday. We got our touch of the 2.0 BB – but at least while I’m writing this we are on the inside. Which is medium term bearish – again. I would prefer to see a close on the outside and you probably know why.

Our inside day on soybeans is coming along just nicely. FYI – I’m holding with a stop above that 100-day SMA. Super nice setup and although holding here may cost me my profits the potential benefit outweighs the risk IMNSHO.

30-year bond futures: That was a very nice inside day entry and I’m taking profits here. Yes there is potential for continuation higher but in the context of my next chart I decided to be conservative.

My ZN trade has gone to target in two days – not going to push my luck here. Also, the hourly is looking due for a bit of a shake out – I’ll be happy to watch other suffer through it 😉

Seriously – it’s been pouring inside days lately – incredible! And gold resolved beyond my wildest dreams. I’m outta here and smiling all the way to the bank.

You may recall that silver gave us an ID as well – way ahead of gold actually. I’m also out of that one as of now. Not going to push my luck for a few handles more.

Crude – what can I say – this should be illegal. At target – get your ass out. And then back in – let me show you below. And there’s a LOT more where that came from – I’ve got setups crawling up my ass today. So fetch your secret decoder ring and step into my evil mediterranean Ersatz-Lair:

You got to love an inside day at support – but I would only take it to the long side – too risky down here for my taste.

Cotton – another ID setup that banked us some mighty coin. Also sitting on support right now. Do you want to be long? Here’s a possible setup that possibly allows us to avoid having to wait for a floor pattern:

That’s right – cotton is in a similar configuration as crude. Same setup – same play.

Okay, I’m NOT making this stuff up. After giving us a triple inside day we now seem to be getting a quadruple one! NEVER EVER seen one of those in my time – maybe I missed them when they presented themselves. This one may be one for the history books – I can’t wait to see a breach. The advantage here of course is that we have a very tiny risk range and even if it whipsaws we can be responsive without losing much – very much going to enjoy this one.

Off to the currency side. AUD/JPY well on its way – nothing for you to do but to hold.

CAD/JPY – possible long here with tiny risk. I would play it small though – we want to see a floor pattern before we throw real coin at this. But it’s worth a few contracts IMO.

EUR/JPY – inside day right below the 100-day SMA resistance line. You can imagine which way I want to see this one resolve. One sweet setup in my book!

Here’s how you play this one – very simple. Again, I prefer the short but would play the long side with confirmation above that 100-day SMA.

EUR/USD – similar setup – same game.

Again – the precise setup for your convenience. Am I spoiling you guys too much? 😉

And another one!! ID setup on USD/CAD – have at it!

We have been having one amazing quarter so far and I would like to make sure you guys don’t get cocky and take on too much risk. Play the setups by the book and don’t bend the rules. Fade your emotions and stick with the script – it’s been treating us very well lately.

Cheers,