Tuesday’s Futures Setups

Frost in Michigan, Indiana, and Ohio may
damage the bean crop. U.S. consumer spending was up .8% in August; personal
incomes rose .2%. Problems for OPEC? Mexico and Norway said that they will not
decrease production, and Russia said it will only cut if prices drop
substantially.

The E-minis may rally more out of this pullback, especially as it’s quarter-end.

The E-mini Nasdaq is basically the same chart, but it bounced right off the
50-day MA.

 

Sugar has some potential here.

Cattle look like they’re shooting for a third attempt. Note momentum here.

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.