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.
I’m grabbing a short if the spoos touch 2040 and change – stop above 2045. Low odds of a slide but big payoff. On stop out I’d flip for a long with a stop below 2040. A direction will most likely present itself here before the week is over, this thing is coiled up to the max and ready to jump.
Cable – long with a stop below the 25-hour SMA. Only 1/2R as it’s early in this push and one must be ready for a little shake out. Could have legs though.
Definitely experimental long on crude – I should have my head checked but this ST formation does look pretty good to me. 1/2R only here – entered right here with a stop below 45.
A few more ST setups below the fold:
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Plenty of event risk later this afternoon but we should be okay for the next five and a half hours.