Corn and Wheat May Resume Downtrends
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.
At the time this is being published, the S&P Globex Futures are trading 2.30 points lower and the bond market is trading down 4 ticks.
March Corn [CH0>CH0] and Wheat [WH0>WH0], mentioned recently and on the Pullbacks From Lows List, still look like they have the potential to resume their longer-term downtrends. Look for shorting opportunities here.
February Natural Gas [NGG0>NGG0], mentioned last night (see archive), sold off and closed poorly today. Continue to look for a shorting opportunity here.
Volatility Watch
March Silver [SIH0>SIH0] is now on all three Volatility Explosions Lists. Continue to watch for a larger-than-normal move (in either direction) as volatility reverts to its mean.
February Gold [GCG0>GCG0], like silver, is now on all three Volatility Explosions Lists. Continue to watch for a larger-than-normal move (in either direction) as volatility reverts to its mean.
Best of luck with your trading on Wednesday!
PS-Reminder: Protective stops on every trade!