Bounce In The P’s?
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
market’s opening. Therefore, overnight events may alter the
outcome of these observations.
The December S&P futures
(
SPZ0 |
Quote |
Chart |
News |
PowerRating) broke through support but reversed
to close fairly well. This action may have drawn in (and trapped) the breakout players. This,
combined with a
CVR I buy signal on the Market
Bias Page, suggests that there may be a buying opportunity here.
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October lean hogs
(
LHV0 |
Quote |
Chart |
News |
PowerRating) are in their first pullback since
rallying from major lows. Look for a buying opportunity here.
November natural gas
(
NGX0 |
Quote |
Chart |
News |
PowerRating), mentioned recently, still looks like it has potential to
continue its rally out of pullback.
Continue to look for a buying opportunity here.
Looking
Ahead
December corn
(
CZ0 |
Quote |
Chart |
News |
PowerRating), mentioned recently, hit new three-month highs
again on Wednesday. This commodity may set up as a pullback over the next few days.
Best of luck with
your trading on Thursday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!