Bounce Time For Index Futures?
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.
Tonight (Friday), we have a plethora of buy
signals on the Market Bias page. This suggests that we could see a bounce in the
index futures. The September Nasdaq 100
(
NDU1 |
Quote |
Chart |
News |
PowerRating) look most promising
here. Use caution, though, as the longer-term trend remains down.
November soybeans
(
SX1 |
Quote |
Chart |
News |
PowerRating), mentioned recently, still look poised to break down out of a topping formation.
They are also setting up as a low-volatility situation. Continue to look for a
shorting opportunity here.
Best of luck with
your trading on Tuesday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!
Â