Dollar Vulnerable
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 September index futures appear to be stalling out after their recent
bounce. For the nimble (e.g. a day trade), look for shorting opportunities here.
The Dollar looks poised to resume its continue its breakdown out of a big
picture topping formation. Look for buying opportunities in the inverse currencies
but avoid the Yen as it remains weak.
Looking Ahead
August live cattle
(
LCQ1 |
Quote |
Chart |
News |
PowerRating) appear to be breaking down out of a topping
formation and may set up as a short over the next few days.
Special thanks to Marc Dupee’ for filling in while I was away.
Best of luck with
your trading on Tuesday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!