One-Day Wonder?
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 S&P futures
(
SPU2 |
Quote |
Chart |
News |
PowerRating) appear to be headed for a retest of the July 3
low after Monday’s poor close.
Corn
(
CZ2 |
Quote |
Chart |
News |
PowerRating) is tracing out a pullback from high.
Finally, cocoa
(
CCU2 |
Quote |
Chart |
News |
PowerRating) continues to go parabolic. Wait for
follow through if you want to continue to catch the momentum, or wait for a
pullback to take shape.
Have a great trading day Tuesday.
Duke
P.S. Use stops on every trade.