Once Again, Let The Markets Come To You
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.
There’s not much to look at again tonight (Tuesday). The indices are
beginning to look somewhat constructive but will likely pop up on the
Intel news. Unleaded gas continues to melt up but, so far, has offered no
entries. Heating oil has begun to correct but its not set up (yet). Soybeans may
be attempting a double bottom but there’s no set up there. Copper still
looks vulnerable but, so far, has failed to break.
Considering the above, I see no setups for Wednesday. Therefore, remain
patient and wait for the markets to set up again.
Best of luck with
your trading (or not trading) on Wednesday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!