September Coffee Appears Breaking Down
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 .10 points lower and the Bond Market Futures are trading up 1 tick.
September Coffee [KCU9>KCU9], on the New 10 Days Lows List, appears to be breaking down out of a sideways consolidation. Look for a shorting opportunity here as the trend remains down.
Source: Omega Research.
For you breakout players, October Sugar [SBV9>SBV9] mentioned over the past few nights and on the Momentum 5 List, hit and closed at 4 month highs today. Continue to look for a buying opportunity here.
The September Dmark [DMZ9>DMZ9] mentioned last night and up .0041 today, still looks interesting to me as it appears to be rallying out of a minor double bottom. Continue to look for a buying opportunity here.
Best of luck with your trading on Friday!
Dave Landry
PS-Reminder: Protective stops on every trade!