Continuation In Nasdaq 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.
After probing the area near its recent lows (a), the March Nasdaq 100 futures
(
NDH1 |
Quote |
Chart |
News |
PowerRating) rallied nicely and closed well (b). This suggests that there may be
a bounce play in here for the nimble. Look for a buying opportunity here.
The March British Pound
(
BPH1 |
Quote |
Chart |
News |
PowerRating)
appears to be losing steam after pulling back into the area of its recent
breakdown. Look for a shorting opportunity here.
Looking Ahead
March coffee
(
KCH1 |
Quote |
Chart |
News |
PowerRating) looks like it
might test its old lows once again. If they hold, it could set up a big
picture double bottom. Remain patient and wait for the pattern to develop.
Best of luck with
your trading on Thursday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!