Who Made The Money Today…And How
An extremely volatile day in the broader Index
futures gave many opportunities to those who know and understand Kevin
Haggerty’s strategies on intraday trading. For those of you who do not know
what great a teacher and trader he is, I urge you to take his class or video
course.
The Sept. S&P 500 futures
(
SPU2 |
Quote |
Chart |
News |
PowerRating) were
influenced by the S&P 500 cash Index, when the
(
$SPX.X |
Quote |
Chart |
News |
PowerRating) hit the 1.5
Volatility Band and then fell into a Trap Door Pattern and then created several
1,2,3 Reversal Patterns throughout the day. This is why traders love
volatility. The SPU2 rose for the second time in 8 days. SPU2 closed at 905,
up 1.19.
The Sept. Nasdaq 100 futures
(
NDU2 |
Quote |
Chart |
News |
PowerRating)
gapped in a similar fashion to the S&Ps, following the lead of the
Nasdaq 100 cash Index
(
$NDX.X |
Quote |
Chart |
News |
PowerRating). The NDX hit the 1.0 Volatility Band
(1042) then went into a Trap Door pattern and dropped, giving traders several
opportunities to make money in both directions of the market. The NDU2 closed at
1033.50 up 17.00.
Crude oil and products futures at the New York
Mercantile Exchange were lower midday Wednesday and then traded mixed by the
close. Traders pondered a mixed bag of weekly inventory data from the
American Petroleum Institute. Crude oil for August delivery
(
CLQ2 |
Quote |
Chart |
News |
PowerRating) gained 5 cents to $27.80 a
barrel, August gasoline
(
HUQ2 |
Quote |
Chart |
News |
PowerRating) rose .27 cent to 84.79 cents a gallon
and August heating oil
(
HOQ2 |
Quote |
Chart |
News |
PowerRating) fell .14 to 70.95 cents a gallon.
Forecasts for scattered rain in the Midwest this week sent grain and soybean
futures lower on the Chicago Board of Trade. Corn and soybeans both dropped
about 1% of their value in the opening of trading. This was based on the outlook
for wet weather in prime growing areas by the weekend. Wheat for September
delivery
(
WU2 |
Quote |
Chart |
News |
PowerRating) fell 1 1/2 cent, but ended up rallying to $3.35 a bushel
up 1 cents; December corn
(
CZ2 |
Quote |
Chart |
News |
PowerRating) fell 1 3/4 cents to $2.41 1/4 a
bushel; November soybeans
(
SX2 |
Quote |
Chart |
News |
PowerRating) fell 6 1/4 cents or 1.16% to $5.31 a
bushel.
In Precious Metals, on the Comex division of the New York Mercantile Exchange,
September silver futures
(
SIU2 |
Quote |
Chart |
News |
PowerRating) dipped over 4 cents before closing
unchanged at $5.05. August gold
(
GCQ2 |
Quote |
Chart |
News |
PowerRating) closed at $317.60 up .10.