Bottoms And Bow Ties

March 1, 2002
Dave Landry

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.

April live cattle
(
LCJ2 |
Quote |
Chart |
News |
PowerRating), mentioned Thursday
night, is setting up as a
Bow Tie “Kiss” pattern.Â

Looking Ahead

Once again, for you longer-term players/bottom fishers, the March Yen
(
JYH2 |
Quote |
Chart |
News |
PowerRating) looks
like it is trying to find a bottom at life-of-contract lows. For the short-term
players, wait for a rally and look to play the first pullback (which could set
up as a Bow Tie).