Bonds Still Constructive
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”>Join me, fellow TradingMarkets.com
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At the time this
is being published, the Globex S&P futures are trading
down 0.40 points and the bond market is trading up 1 tick.
September bonds
(
USU0 |
Quote |
Chart |
News |
PowerRating), mentioned Monday night, continue to consolidate
at higher levels and look poised to resume their uptrend.
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September cocoa
(
CCU0 |
Quote |
Chart |
News |
PowerRating) has pulled back from life-of-contract lows and
looks poised to make another stab lower. Look for a shorting
opportunity here.
December gold
(
GCZ0 |
Quote |
Chart |
News |
PowerRating), also mentioned Monday night, still looks poised
to challenge its recent lows.
Looking Ahead
The grains
continue to bottom. This may take a while, so I won’t
mention them again until they are set up.
Best of luck with
your trading on Wednesday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!