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Thursday Morning Briefing
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Thursday Morning Briefing

Thursday Morning Briefing

by The MoleFebruary 20, 2014

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.

The spoos have eroded a bit further overnight and it makes sense to look for possible support zones. On the Bollingers we are somewhere in the middle of it all but there’s a daily NLSL at 1,811.25 – still leaves a few more ticks to the downside.

The NQ already touches its NLSL and thus far it’s holding.

Looking at the actual cash indices we have possible 25-day BB support near 1826. Obviously the futures are already below it, so let’s see if that’s just an attempt to scare the children overnight.

The NDX also nearing its lower BB – here we are looking at 3643 for possible support.

Wheat is looking interesting this morning – very nice up trend here on the hourly with the 25-hour carrying price higher. There’s a NLBL at 620.25 and I will consider a ST long position if it climbs above it.

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Cheers,

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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