Thursday’s Futures Setups

The Dow
gained 128 to 9183, the Nasdaq rose 18 to 1646, and the S&P 500 added
12 to 997. OPEC left production and quota levels unchanged. In the Fed’s Beige
Book, four districts showed improvement, while the other eight were neutral. The
cotton crop this year is being affected by drought in Texas and too much water
in the Southeast.

Long Candidates:

None tonight.

If you’re still in Cotton
(
CTZ3 |
Quote |
Chart |
News |
PowerRating) from 6/4, nice.

Coffee
(
KCN3 |
Quote |
Chart |
News |
PowerRating) triggered long at 59.80.

Cocoa
(
CCU3 |
Quote |
Chart |
News |
PowerRating) may be trying to bottom; we’ll watch for now.

Silver
(
SIN3 |
Quote |
Chart |
News |
PowerRating) might bounce soon; momentum is increasing here.

Short Candidates:

Bonds
(
USM3 |
Quote |
Chart |
News |
PowerRating) closed in a Shooting Star formation. Momentum is
decreasing here. Picking tops is pretty risky, though – be careful.

Gold
(
GCQ3 |
Quote |
Chart |
News |
PowerRating) triggered short at 357.65.

Please note that while there are strong trends, one bar or a series of bars
forming a setup can sometimes indicate a contra move for the next day. This
contra move may not be long-lasting — maybe only for a day or two. Trading with
the main trend is always the highest probability trade.

Be advised that some futures contracts are prone to gaps.

Remember, use stops on all your trades.

Brice