Thursday Morning Briefing

Yesterday’s E-Mini session was a textbook sell off day and if you’re interested in how it looked on our Zero indicator then take a look at the video below (tip: play it in 720p). As you can see the Zero Lite signal (on the right panel) remains below the mark for most of the session. The blue reversal signals were also quite helpful I would say 🙂

On the setup front I’m seeing nothing delectable this morning – the YM looked good near its 100-hour but the initial jobless claims report just blew that one out of the water a few minutes ago.

The only setup that may still be in play is the GBP/AUD – since I took this screengrab it has attempted to bust through its 100-hour but fell back quickly. I would wait here for a more thorough test in an hour or so (if we get it) – so don’t rush it. The smart traders knows when to jump into the fray and when to just sit and wait – this morning fits most definitely into the ‘sit and wait’ category.

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Cheers,