Dead Cat Bounce In Dollar?
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.
The Dollar finally bounced. This action caused selling in the inversed
currencies and sets up the June Swiss Franc
(
SFM2 |
Quote |
Chart |
News |
PowerRating) as a Double Top Knockout
(i.e. a potential short-term false double top. E-mail me if don’t have my book
and need the rules).
Looking Ahead
The crude complex still looks like it could be rolling over. Once again, we could
see Bow Tie setups here
soon.
July beans
(
SN2 |
Quote |
Chart |
News |
PowerRating) have been in a strong trend as of late. They could set
up soon on a pullback.
August gold
(
GCQ2 |
Quote |
Chart |
News |
PowerRating) remains in a strong uptrend. It
could set up over the next few days.
July silver
(
SIN2 |
Quote |
Chart |
News |
PowerRating), mentioned recently, continues to hit new highs. It
too could set up soon on a pullback.
Best of luck with
your trading on Monday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!