Dow Not Breaking
Marc Dupee will be out of the
office until Monday, October 9. In his absence this column is being written by
TradersWire’s Duke Heberlein.
Stock Index futures are trying to tread water in
Wednesday morning’s trading, with the Dow futures
(
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PowerRating) continuing to show
strength, now up 88 points at 10900. The December S&P futures
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PowerRating),
off the Implosion-5
List, are unchanged, and the NASDAQ 100 futures
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PowerRating) are trading up
9.00 at 3359.75.
October lean hogs
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PowerRating), from the Momentum-5
List, are pulling back from the recent contract high, and could be resuming
their strong uptrend. Live cattle has a similar pattern and technical setup.
Corn
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PowerRating) broke out to a new
three-month high on Tuesday and traded higher Wednesday morning, up 1/4 to 203
3/4. Traders will most likely be on the lookout for a pullback to take shape
over the upcoming sessions.
In the energies, natural
gas
(
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PowerRating), from the Pullback
From Highs List is climbing up its 20-day
moving average and looks poised to rally out of its pullback from its prior
highs.