Thursday’s Futures Setups
.
Bonds
(
USZ2 |
Quote |
Chart |
News |
PowerRating) are at the top of a large triangle after a false
breakdown on December 2. We’re close to a breakout, but we’ve also been up five
days in a row.Â
Long
Candidates:
|
Contract |
Setup |
Direction |
Trigger |
| Sugar ( SBH3 | Quote | Chart | News | PowerRating) |
Pullback From High |
up | above Wednesday’s high |
| Euro ( ECZ2 | Quote | Chart | News | PowerRating) |
Flag | up | above Wednesday’s high |
| Gold ( GCG3 | Quote | Chart | News | PowerRating) |
Flag | up | above Wednesday’s high |
| Cotton ( CTH3 | Quote | Chart | News | PowerRating) |
Pullback | up | above Wednesday’s high |
March Cotton
(
CTH3 |
Quote |
Chart |
News |
PowerRating), after a big day yesterday, made an inside
day today. This pullback may take one more day to play out, but be ready to go
if it takes out Wednesday’s high.
March Sugar
(
SBH3 |
Quote |
Chart |
News |
PowerRating) rallied slightly today and may continue
Thursday.
The Euro
(
ECZ2 |
Quote |
Chart |
News |
PowerRating) is consolidating at the top of a channel. A break
higher is bullish.
February Gold (GCG3)
pulled back from 9/24 and 7/19 resistance, and is now trading in a flag, putting
in a good close today.
Short
Candidates:
| Contract |
Setup |
Direction |
Trigger |
| Corn ( CH3 | Quote | Chart | News | PowerRating) |
Pullback From Low | down | below Wednesday’s low |
|
Unleaded Gas |
Hitting Sep/Oct resistance area |
down | below Wednesday’s low |
January Unleaded Gas
(
HUF3 |
Quote |
Chart |
News |
PowerRating) is hitting September/October resistance levels and closed poorly
today. Look for a pullback.
OPEC is meeting Thursday in Vienna.
Look for volatility in Crude.
March Corn
(
CH3 |
Quote |
Chart |
News |
PowerRating) is
pulling back from lows, hitting a down trend line, and looks ready to continue
its downtrend.
   Â
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.
Remember,
use stops on all your trades.