Tuesday Morning Briefing
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.
The spoos have held their ground overnight and if that hourly NLBL holds up until the open we may be primed for at least a ramp and camp session (the ramp having happened yesterday). Anyway, thus far it’s looking solid but at minimum we have to hold ES 2070 (the 25-day SMA) moving forward. Failure to do so won’t squander the bullish potential here but we may remain trapped in a sideways formation. Not a great way to spend spring, especially after we already have remained range based for most of the year.
Update on our USD/JPY campaign which is progressing quite nicely. I’m moving my stop to the 100-hour now as I’m converting it officially into a daily campaign. If it manages to breach the 25-day SMA it may have enough mojo for a rocket move higher.
Hello Major Tom – are you receiving??
Bonds – looking good here and I’m attempting a small (1/2R) long with a stop below the recent spike low at 163.26.
GBP/USD – something grabbed my attention here this morning. It’s looking like it’s primed for a drop lower but IF (and only IF) it manages to bust above 1.491 I plan to take out a small (1/2R or less) long position.
More short term setups below the fold:
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Alright that should keep you guys busy. See you guys later this afternoon.
Before I go I would like to present this year’s Wacky Weed Award to Ivan Krastins who just dropped by this morning and thus proved utter invincibility in the face of a category 5 typhoon or however they label their massive storms down under. Well done Ivan – we are glad you are well and hope you will bestow us with many more years of cryptic contributions 😉
By the way – buy his book or something – he needs to rebuild is straw hut in Vanuatu and chase out the crabs. Or donate here to help rebuild the island.
Cheers,