Divergent Dow
Each evening we
focus on the most interesting aspects for the upcoming
trading day. The comments are based on observations of the
nightly updates of the Futures and Market Bias pages. They
are provided for educational purposes only and are not
intended to be direct trading advice. Also, keep in mind
that these remarks are made up to 12 hours in advance of the
markets opening. Therefore, overnight events may alter the
outcome of these observations.
face=”Arial, Helvetica”>For those of you planning to attend
the TradingMarkets2000 First Annual Traders Conference at
the Venetian Resort, Hotel & Casino in Las Vegas on
October 13-15, I’ll be speaking on Saturday afternoon
following Leno. I’ll also be at the cocktail party
Friday night. Sign up soon, as space is limited.
The December Dow Jones Futures
(
DJZ0 |
Quote |
Chart |
News |
PowerRating) bounced off its
recent lows and rallied to close well (a). This action forms a bullish outside
day in a pullback. Look for a buying opportunity here, but, don’t overstay your
welcome as its questionable as to how long the the Dow can rally without the
S&P and Nasdaq.
width=”470″ height=”320″>
The December Swiss Franc
(
SFZ0 |
Quote |
Chart |
News |
PowerRating) appears to
be stalling out in its rally from lows. Look for a shorting opportunity here.
October live cattle
(
LCV0 |
Quote |
Chart |
News |
PowerRating) and feeder cattle
(
FCV0 |
Quote |
Chart |
News |
PowerRating), mentioned recently, still
look vulnerable. Continue to look for a shorting opportunity here.
Looking
Ahead
December copper
(
HGZ0 |
Quote |
Chart |
News |
PowerRating), continues its fast move higher. The
first pullback here may offer an entry.
Best of luck with
your trading on Wednesday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!