Hail To The (Almost) Chief
Stock index futures are staging one of their biggest percentage rallies of the
year with the Nasdaq 100 futures
(
NDZ0 |
Quote |
Chart |
News |
PowerRating) leading the way. Naz futures gapped
open nearly 100 points than provided three solid pullback entry opportunities.
The NDZ is currently trading on its high of the session, up 230.
Natural gas
(
NGF1 |
Quote |
Chart |
News |
PowerRating), from the Momentum-5
List, is extending yesterday’s powerful rally with another 4% gain to a
fresh all-time high. Natural gas is rallying on the forecast from private
meteorologists that an arctic cold front–potentially the most severe in
years–will blast through the Midwest and Northeast later this week during a
time of extremely low storage levels.Â
Going the other way in the energies, Implosion-5 List
members January crude oil
(
CLF1 |
Quote |
Chart |
News |
PowerRating) and unleaded gasoline
(
HUF1 |
Quote |
Chart |
News |
PowerRating), are down sharply for a fourth
day. Crude has clipped nearly five dollars a barrel from its price over the past
four sessions and touched down to a three-month low this morning, down .80 to
30.42.
Traders have been anticipating a stronger
dollar in the event of a Bush presidential victory.
December dollar index futures
(
DXZ0 |
Quote |
Chart |
News |
PowerRating) are making good on their Turtle Soup Plus One Buy
setup, up .49 to 114.14. Weakening against the dollar,
British pounds
(
BPZ0 |
Quote |
Chart |
News |
PowerRating) gapped lower and are continuing their descent to make
good on their Turtle Soup Plus One
Sell trigger. The euro FX and Swiss franc are also pulling back from recent
highs (the euro FX registered a Turtle Soup Sell yesterday).Â
Finally, live cattle
(
LCG1 |
Quote |
Chart |
News |
PowerRating)Â continue to move higher out of their Pullback From
Highs setup.
Â