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Thursday Morning Briefing
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Thursday Morning Briefing

Thursday Morning Briefing

by The MoleOctober 10, 2013

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 a late session fake-out the the rally has continued overnight and we are now tickling the 100-hour SMA which is our next hurdle on the way up. And there’s this:

I’m sure you recall that volume hole at 1665 which is now a wee bit less pronounced. However, it has served as a touch point on several occasions and if the bulls can jump this fence then we may actually see this thing pick up some momentum.

I have to say I’m rather elated how the Zero indicator gave us numerous opportunities to at least cut any remaining short positions yesterday. As you can see we got spoiled by bullish divergences on the hourly and the 5-min panel plus a Mole reversal signal which nailed the current floor by the very candle. If you haven’t signed up yet then I strongly recommend you remedy this unfortunate situation. I personally wouldn’t touch the spoos without it.

Only one lousy setup for today – embarrassing really, I know! But there’s not much out there I find interesting at the current time:

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About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
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