I hope you enjoyed a few days off – I certainly did and although I would love to boast that I spent my time productively I mostly wound up catching up with a few shows and training with my guys. Even Mole the machine needs to recharge his batteries every once in a while. However there’s only so much idle time I can tolerate and I intend to hit the ground running here as we are now heading into one of the most exciting periods of the year. So snap out of your tryptophan induced slumbers and let’s get to work!
On the equities side we are holding strong and you should move your stop below the 25-day SMA around 2077. We are now facing medium term overhead resistance which will take a bit of doing to be overcome. If we fail here then we may just spend another week or so correcting – and if we do then 2065 is where I would expect the bulls to stage a first line of defense.
AUD/CHF update – looking very good here as quite a few top callers were caught with their pants down. However now momentum needs to keep leading higher and we may see a first correction. I put my stop near 0.74 in order to lock in a bit of profit but allow enough room for an obligatory shake out.
Speaking of the Ozzi Dollar, our GBP/AUD campaign is looking… well… sideways. I know we’re going to see a big move here shortly (the hourly BBs are compressed tight) but I may have been a bit early when going long. My entry was well placed however and the sideways range affords us more and more context to get positioned. So I’m staying long here with my original ISL and will flip short if daily support gets taken out. I’ll keep you posted here.
AUD/CAD – taking out a long position in anticipation of a possible run higher. I mostly like the weekly panel which appears to consolidate here above weekly resistance.
More setups waiting below the fold:
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That ought to get you guys going! Now have fun but keep it frosty.