Thursday Morning Briefing
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.
After some overnight sideways action the E-Mini has caught up with its 25-hour SMA and now has a choice – bust through a NLBL and lead higher or fail the 25-hour for yet another retest. This is going to get interesting as we have a rising 100-day SMA and a falling 25-day SMA with prices trapped between. I think 1660 is now the uncle point for the bears as the bulls will solidly run the action thereafter.
The Dollar has lost some of its mojo over the past few sessions and is now in the process of failing both its 100-h and 25-h SMAs. I’m currently short with a stop above the 82.32 NLBL.
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Cheers,
