Trippy Tuesday Morning Briefing

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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 hope you all had a relaxing weekend because it’s time to roll up your sleeves and get to work. This week is going to be awesome and intend to stick to a strict take no prisoners policy. Let me set the table for you guys. For one we are currently trading above the 10th consecutive close higher on the spoos. We’re also starting to run out of volume on the profile panel (see above). All in all a very rare configuration but it gets better…

Due to the three day weekend we are also seeing a very pronounced BB compression on the hourly right now – and that’s across all the index futures. I expect a big move to follow here shortly – meaning today or tomorrow at the latest. Now the bears look at this and think that it couldn’t possibly push any further, right? The bulls think – wow, I’m missing out – this is the rally of the year! Besides – an eleven session higher? It’s so crazy it just could work!

So that’s the setup and you would be well served to get positioned here, right now. But how you ask? As always evil Mole is on the case – while you guys have spent the long weekend catching up on Jim Sinclair posts he has spent it plotting his devious schemes. Please step into my lair

 

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