Dollar Short?

  • July 3, 2002
  • Duke Heberlein

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 Euro
(
ECU2 |
Quote |
Chart |
News |
PowerRating), mentioned last night, continues to shape up in a
pullback from its recent high. The U.S. dollar
(
DXU2 |
Quote |
Chart |
News |
PowerRating) is setting up in
inverse fashion as a counter trend rally from its low.

 

 

Pork bellies
(
PBN2 |
Quote |
Chart |
News |
PowerRating) have formed a bullish outside day and
closed very strongly after a run higher.

 

 

Finally, in the grains, soybeans
(
SX2 |
Quote |
Chart |
News |
PowerRating) gapped lower but
reversed to close well, suggesting their uptrend remains intact.

 

 

Have a great trading day Friday and a wonderful fourth of July!

Duke

P.S. Use stops on every trade.