Coffee On The Percolator
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.
March Coffee [KCH0>KCH0], on the Pullbacks Off Highs List, closed well and looks poised to rally out of a deep pullback.
January Soybeans [SF0>SF0], on the Turtle Soup Plus One List, failed to follow through to the downside today after yesterday’s sell off. This suggests that all the shorts may already be in the market and looking to cover. Look for a buying opportunity here.
March Sugar [SBH0>SBH0], on the Pullbacks Off Lows List, closed poorly and looks like it may have one more shot at its old lows. Look for a shorting opportunity here.
Best of luck with your trading on Monday!
Dave Landry
PS-Reminder: Protective stops on every trade!