Belly Up?
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.
August bellies
(
PBQ1 |
Quote |
Chart |
News |
PowerRating) tailed higher, but reversed to close poorly. This
suggests that their downtrend remains intact. Look for a shorting opportunity
here.
The June Japanese Yen
(
JYM1 |
Quote |
Chart |
News |
PowerRating), mentioned recently, still looks like it
has the potential to continue in the direction of its recent gap/thrusts. Continue to look for a buying opportunity here.
September bonds
(
USU1 |
Quote |
Chart |
News |
PowerRating) continue to hover above its recent lows. This
suggests the potential of a double bottom forming. For the nimble only,
look for a possible buying opportunity should they “head fake” (i.e.
Turtle Soup) below these lows.Â
Best of luck with
your trading on Thursday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!
Â