Dow Still 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.
Trader’s
Galleria has recently added more products. Check it out and pre-order my upcoming book on swing
trading at a 20% discount while you’re there (I have no shame).
January feeder cattle*
(
FCF1 |
Quote |
Chart |
News |
PowerRating) appears to be making a shallow pullback and
looks poised to resume its strong uptrend. Look for a buying opportunity here.
face=”Arial, Helvetica”>
The December Dow Futures
(
DJZ0 |
Quote |
Chart |
News |
PowerRating), mentioned recently, still look like the
path of least resistance is lower. Continue to look for a shorting opportunity here.
December cotton
(
CTZ0 |
Quote |
Chart |
News |
PowerRating) formed a bearish outside day down in a pullback
from lows. Look for a shorting opportunity here.
Looking Ahead
Once again, copper continues its slide, but so far, hasn’t offered a set up on
the short side. This market may be worth a look over the next few days if it can
rally from lows.
Best of luck with
your trading on Friday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!
*To those new to trading futures,
feeder cattle are tiny little cattle they feed the big cattle. They’re really
cute and taste like chicken.