The Waiting Game?
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.
Stock Index futures closed well on Tuesday, and appear to be setting up as
potential shorts in counter trend rallies. However, wait one more day for a
three day pullback and follow through under the prior day’s low.
Wheat
(
WN2 |
Quote |
Chart |
News |
PowerRating) is setting up in a pullback following its run
higher, and the currencies have been running higher. One could trade them on an
intraday basis if you get trade through entry, or wait for the first pullback
for a swing setup.
Have a great trading day Wednesday!
Duke
P.S. Use stops on every trade.