Employment Report Tomorrow
Each evening we focus on the most interesting aspects for the upcoming trading day. The comments are based on observations of the nightly updates of the Futures and Market Bias pages. They are provided for educational purposes only and are not intended to be direct trading advice. Also, keep in mind that these remarks are made up to 12 hours in advance of the markets opening. Therefore, overnight events may alter the outcome of these observations.
At the time this is being published, the S&P Globex Futures are trading 1.80 points lower and the Bond Market Futures are trading up 2 ticks.
Heads up, the employment report is scheduled for release tomorrow morning. This will likely cause volatility in the September Bonds [USU9>USU9] and set the stage for the index futures early on.
There are only two markets that look interesting to me tonight.
October Sugar [SBV9>SBV9], mentioned last night and on the Pullbacks Off Highs List, looks like it is pivoting out of a pullback. Continue to look for a buying opportunity here as the trend remains up.
Source: Omega Research.
Volatility Watch
The September Japanese Yen [JYU9>JYU9], continues to be on the Volatility Explosions-Multiple Days List. Watch for a larger-than-normal move as volatility reverts back to its mean.
Best of luck with your trading on Friday!
Dave Landry
PS-Reminder: Protective stops on every trade!