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Wednesday Morning Briefing
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Wednesday Morning Briefing

by The MoleNovember 6, 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 hammer long setup on the SPX appears to be in the process of triggering on the spoos (equivalent trigger shown at 1764 – it’s 1767.03 on the cash). It’ll run into two NLBLs almost immediately so I don’t feel so hot about it – but a setup is a setup. I’ll jump in with 1/2R and see if it can get past 1776 on the cash. My stop is below ES 1751.

The greenback is approaching short term support after pushing sideways for a few sessions. No setup here yet – let’s see how it behaves once it starts touching that 100-hour SMA.

However there is a plethora of EUR setups today as things seem to be coming into sync on that front. Please step into my lair:

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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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