Titanic Wednesday

Heck, I knew this morning this would be a fun day. I feel like I’m standing on the deck of the Titanic haplessly sipping my last gin & tonic poured over three thousand year old ice I just picked up from the floor. A kingdom for a damn lemon! We’ve got breaches all over the place, people. So be sure to pick out your lifeboat before those pesky women and children show up. Alright let’s head down to the machine room first then we’ll dive right into the setups – there are legion today:

One of my readers sent me this little tidbit today – seems AAPL turned to the dark side today – love that evil price quote!

Well, it’s good to know that my warnings earlier this week were not entirely unfounded. The spoos are touching their first support cluster, which may produce some buying interest. However I prefer to watch the FX side for possible hints of what lies ahead.

USD/CAD – we have a breach ladies and rats! I posted about this one this morning before the bell and I hope you grabbed it when it hopped the fence.

AUD/USD – the 25-day SMA has now been breached. It’s been on our watch list repeatedly and I’m now short with a stop above the SMA.

Sugar – what a smack down! We got a beautiful short entry on the hourly this morning and quite honestly I had totally forgotten about the daily panel which lined up perfectly. Suffice to say that I’m a very happy camper right now and so should you!

And FINALLY – a breach on crude. Another one we have been watching and waiting for. If you were awake this morning then you have a prime entry. I will hold short here with a stop above the SMA. If she shakes me out then I’ll try again as I have big plans for this one.

Alright on to the new setups – please join me in my evil lair:
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AUD/JPY – the 25-day SMA is toast – next stop is the lower Bollinger at 79.9. I’m going to wait for that one until I grab a long position (hoping to be stopped out so I can flip it – yes, one can dream).

EUR/CAD – holding the fort thus far, thus I think 1.26 makes for a good bounce zone.

EUR/JPY at support – however that SMA has been good for a bounce for months now, so let’s give it a chance. Yes, I’ll take a breach, in particular if other EUR pairs drop off the plate.

EUR/USD – approaching its 25-day SMA – keep an eye on that.

Coffee – trying to make up its mind. Strikes me a bit like Danny Durante – stay, go, stay go! Anyway, those two SMAs are entangled and a breach or bounce here could be golden.

The 30-year seems to want to go higher – as I’m typing this we’re breaching the SMA. Once the ZN breaches I will be long with a stop below (see below). Willing to flip this sucker if she falls back.

I’m basically waiting for the ZN to take a long on the ZB – or short on both if the ZN leads us down. Hope this makes sense, if not then ask. I have seen the ZN call the shots lately so that’s my canary in the coal mine – it’s possible the ZB is just sticking its head out the window for a little whiff.

Cheers,