Tuesday 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.

I hope you enjoyed a relaxing Memorial Day weekend as we’ve going to hit the ground running today, so grab a cup of java (or tea) and roll up your sleeves. We literally have setups crawling out of the woodwork this morning – let’s get to it: The DX continues to be stomped again and is now approaching its 25-hour SMA where it’ll either find a buyer or probably sink lower today.

Copper pinned between both its SMAs – great inflection point.

Sugar – enjoying support of a NLSL and two SMAs below – right now I’m long with a stop below the 25-hour.

EUR/AUD at its 100-hour SMA – simple binary setup. My brand spanking new VolStat indicator suggests that we’ve got some volatility coming 🙂

GBP/USD looking like a possible long right now. Once again volatility has been flat and perhaps we’re cycling back into a period of decent activity.

But we’re just getting warmed up – a ton of charts waiting below for my intrepid subs:

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Public Service Announcement: While most of you guys have been enjoying your three day weekend (or more) the lowly Mole has been slaving away in his lair diligently working on new fiendish schemes:

I’m not even kidding – I have been coding almost non-stop since Friday night and am happy to announce that CrazyIvan now looks stable enough to be deployed into alpha this week. Both Scott and I have been working our butts off over the past four months and it’s really starting to pay off. Above you can see all theoretical signals being plotted in gray with the taken ones in green and red. I’m also plotting the won/lost ticks/pips but that part is still a bit rough around the edges. I couldn’t begin to list the number of improvements and fixes I have put into this over the past few weeks – the code base now has grown to well over 2500 lines of code.

Scott and I are also working on a 15-minute S&P futures version which will be the first of many to be let loose onto my stainless steel rats in the coming months. More details will be forthcoming shortly 🙂

Cheers,