NDZ9, Possible Buy
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.
The December NASDAQ 100 [NDZ9>NDZ9], on the Momentum 5 List, sold off earlier today but recovered to close well. This forms a bullish outside day near all time highs. Look for a possible buying opportunity here.
December Gold [GCZ9>GCZ9], on the Momentum 5 and Pullback Off Highs Lists, is consolidating at higher levels. Watch for a potential continuation move to the upside.
Volatility Watch
The December British Pound [BPZ9>BPZ9] is now on the Volatility Explosions-Low Multiple Days List. Watch for a larger-than-normal move (in either direction) as volatility reverts to its mean.
Best of luck with your trading on Monday!
Dave Landry
PS-Reminder: Protective stops on every trade!