Bonds Away?
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.
Once again, the S&P futures
(
SPU1 |
Quote |
Chart |
News |
PowerRating) have failed to clear a resistance
level. This, combined with recent market bias signals, suggests that they remain
vulnerable. Therefore, continue to look for a shorting opportunity here.
September bonds
(
US1U |
Quote |
Chart |
News |
PowerRating) tailed lower on Friday but reversed to close
well. This action suggests that their recent uptrend remains intact. Look for a
buying opportunity here.
Yet again, for you bottom fishers, December cotton
(
CTZ1 |
Quote |
Chart |
News |
PowerRating) appears to be forming a low level cup and handle. Look for a buying
opportunity here–or better yet–wait for a stronger rally and look to trade the first pullback.
August feeder cattle
(
FCQ1 |
Quote |
Chart |
News |
PowerRating) continue to consolidating at lower levels and
still look poised to make another stab lower. Look
for a shorting opportunity here.
Looking Ahead
The meltdown in August live cattle
(
LCQ1 |
Quote |
Chart |
News |
PowerRating) continues. On
the first bounce, it will likely set up as a potential short.Â
Best of luck with
your trading on Monday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!
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