Dollar Vulnerable / Gold Strong
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.
At the time this
is being published, the Globex S&P futures are trading
down 1.10 points and the bond market is unchanged.
The September
dollar
(
DXU0 |
Quote |
Chart |
News |
PowerRating), mentioned Friday, still looks poised to
resume its downtrend. The September British pound
(
BPU0 |
Quote |
Chart |
News |
PowerRating) and September euro
(
ECU0 |
Quote |
Chart |
News |
PowerRating) look like
possible inverse plays. Look for buying opportunities here.
August gold
(
GCQ0 |
Quote |
Chart |
News |
PowerRating), mentioned Friday, closed well on Monday and
looks poised to rally out of its first pullback/flag since
rallying off of major lows. Continue to look for a buying
opportunity here.
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Volatility
Watch
September bonds
(
USU0 |
Quote |
Chart |
News |
PowerRating) remain a low-volatility situation. Watch for a
larger-than-normal move in either direction, as volatility
reverts to its mean.
Best of luck with
your trading on Tuesday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!