Thursday Road Map
Finally this month’s Mad FOMC Wednesday is behind us and we can get back to what we do best – squeeze ill-gotten gains from this crazy market. We have a ton of juicy setups today and equities also offer us various ways to get (mildly) exposed, so let’s get to it.
Now, I’m going to make this extremely easy for you today:
- While we’re between 2100.75 and 2095.5 – do NOTHING. This is hardcore churn territory.
- Above 2100.75 the bulls are in possession.
- Below 2095.5 you can be short with 1/2R or less.
- At 2085 we evaluate – best to consult the Zero at touch down to see if there’s a potential fumble in the cards.
- Below 2083 I will already be short if I see lackluster participation on the Zero. And yes, I misspelled SHORT – but at least I spelled misspelled correctly.
Similar thresholds on the YM – I think you get the general idea. The easiest configuration by the way happens to be on the NQ today but I’m keeping this for my intrepid subs.
Crude – I think the chart is pretty clear, n’est-ce-pas?
The Euro – well, as much as I want to see it crash and burn I have long learned that there’s a magic buyer down here and I probably won’t get my wish. Long here with a stop near 1.092 at which point I’ll flip for a small short.
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That’s probably a lot more leads than you cared for – being mid summer and all. Just crank up that A/C, grab a glass of iced coffee and get to work, you lazy bastards!
Oh sorry – coffee is for closers only.