Man Speaks On Sugar
Forecasts from trade house ED&F Man that production of world sugar will
exceed demand hit London sugar markets, sparking a sell-off overnight and setting
the stage for a plunge in New York trading Thursday. The overseas action sparked
a big down gap in the March 2001 contract that is seeing strong downside follow
through. Sugar has closed lower for the past seven days, closed at its lows
Wednesday–in the middle of the July-August consolidation range–and has
indicated it was setting up for a large move by posting a
Multiple Days Low
Volatility reading.
Cocoa is off contract lows in a
Turtle Soup Plus One Buy
setup. The contract gapped higher but came back to provide entry in a
(Cooper) intraday lizard-tail pullback setup.Â
T-bonds
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PowerRating), from the Momentum-5
List, are gaining, as big traders seek a safe car park for funds battered in
the equity market. The contract is currently testing an intraday inverted
head-and-shoulders pattern and is trading just below the neckline of this set
up.Â
After tagging a limit-down trading curb level and falling
further, NASDAQ 100 futures
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PowerRating) are accelerating back through the
limit-curb level as healthcare and biotech stocks on the NDX trade in the
green.