Thursday Morning Briefing

Welcome to our morning briefing. Here we are reviewing short term setups ahead of the NYSE opening bell. If you are a scalper or swing trader then these setups may be of interest to you. As usual keep in mind that these are short term setups although they could be used as early entries for more longer term positions.

Excellent setups this morning. The E-Mini is now below both its 100-hour and 25-hour SMA. After some sideways gyrations overnight the latter is now approaching rapidly while an hourly NLBL looms above. Very interesting configuration and I would be long on a breach of resistance – until then I’ll be short.

The greenback is bumping its head against its 25-hour plus there’s a NLBL in the way which thus far has been holding up nicely. I’m also short here right now with a stop above the NLBL – willing to flip if she breaches both.

Bonds – here’s the 30-year which is heading into its 100-hour. Great inflection point and setup but not as nice as the one on the ZN which has better context (see below)…

I have quite a few more goodies this morning – please step into my lair:
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The reason why I like the setup on the 10-year better is that it’s already above the 100-hour and that there’s a NLSL below in addition to two short term SMAs. I am long here with a stop below.

AUD/JPY made it up to its 100-hour – long on continuation, short on failure.

CAD/JPY – back at its 25-hour. Could be a last kiss goodbye. Long is obviously the easier trade – I’m still on the fence here.

EUR/USD at its lower Bollinger which is rather narrow. Long right now with a stop below 1.354.

USD/CHF at the 25-hour – I think the bears have the upper hand here still, but let’s see. Long on a breach – short if she drops back below.

Silver just failed an hourly NLBL – a bit unexpected as it looked like it was ready to rock and roll. Short here with a stop above the NLBL (which I won’t move – it’s a very speculative setup due to 25-hour being hard on the rise).

Corn back at its 25-hour – good inflection point – you know what to do. If she fails then my target would be the lower 25-hour Bollinger (based on prior occurrences).

Cheers,