Wednesday Morning Briefing
Wednesday 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.
Still no resolution on the equities side as we remain in the sideways churn from hell with both sides showing little interest in taking the initiative. However, it should be pointed out that the onus is on the bears to take this thing lower – the bulls are obviously weak but (and that’s the big but) we remain above important inflection points. And that means the bears are now starting to run out of time. A few more days spent in this range and prices will enjoy a more defined support zone.
Memo to the bears: Let’s get moving or you’ll find yourselves reaching for the vaseline again. Too graphic? Well, that’s why we call it Evil Speculator 😉
NQ now sporting a short term diagonal as new support – similar considerations here. Watch out below 3088 and above 3096 (the NLBL).
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Cheers,
