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Tuesday Morning Briefing
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Tuesday Morning Briefing

Tuesday Morning Briefing

by The MoleNovember 26, 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.

The spoos are still trading below the 25-hour SMA – I’m also seeing a diagonal resistance line slightly above it. Finally the ST bollinger is compressing and I sense we’ve got a big move coming. Thus I want to be long above the diagonal and short below the SMA – triggers on the chart.

Things are a bit more flat on the NQ and we’ve got a horizontal here instead of a diagonal resistance line. Same idea though and once again the triggers are on the chart.

The BB on the TF has narrowed to a straw and we’re also pushing sideways like on the NQ. I think that NLBL is a good go for the long side – the short side is a bit tougher to gauge here but perhaps a good approach is to wait for a more conclusive drop below the SMA and then place a stop above – e.g. NLBL or horizontal support near 1128.

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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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