Filling Up The Burb
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.
Over the weekend as I was filling up the Burb, I noticed that price of
gas wasn’t so cheap anymore. As I look to the futures, May unleaded gas
(
HUK2 |
Quote |
Chart |
News |
PowerRating) looks like it has the potential to resume its strong uptrend out of a pullback.
April lean hogs
(
LHJ1 |
Quote |
Chart |
News |
PowerRating) look like they have the potential to resume their
strong downtrend out of a pullback from lows.
Follow Up/Looking Ahead
In the meats, April live cattle
(
LCJ2 |
Quote |
Chart |
News |
PowerRating) and feeder cattle
(
FCJ2 |
Quote |
Chart |
News |
PowerRating)
continue to probe lower. Once again, they could set up soon
on pullbacks.
If you took short trades in the June S&P futures
(
SPM1 |
Quote |
Chart |
News |
PowerRating), mentioned
recently, you might want to lock in a piece since they were down sharply on
Monday.
Best of luck with
your trading on Tuesday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!