Bonds Stall
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.
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December bonds
(
USZ0 |
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Chart |
News |
PowerRating) stabbed to life-of-contract highs (a) but
reversed to close poorly (b). This action leaves a bearish
tail and suggests that there may be breakout players trapped
on the wrong side of the market. For the nimble, look for a
shorting opportunity here.
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December cotton
(
CTZ0 |
Quote |
Chart |
News |
PowerRating) sold off earlier on Friday (a) but reversed to
close well (b). This suggests that its strong uptrend
remains intact. Look for a buying opportunity here.
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December corn
(
CZ0 |
Quote |
Chart |
News |
PowerRating), mentioned recently, still looks poised to rally
out of its first consolidation since coming off of what
looks like a major bottom. Look for a buying opportunity
here.
Best of luck with
your trading on Tuesday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!