Friday’s Futures Setups
T-bonds
(
USZ1 |
Quote |
Chart |
News |
PowerRating) were bumped out
of a consolidation by a better-than-expected jobless claims report, and stronger
consumer confidence. The contract made a 20-day low before rallying. This Implosion-5
List contract has been down eight of the past nine days.
The Market
Bias Indicators Page is showing six CVR sell signals, and the Dow
(
DJZ1 |
Quote |
Chart |
News |
PowerRating)
and Nasdaq
(
NDZ1 |
Quote |
Chart |
News |
PowerRating) futures both fell.Keep in mind that the CVR
signals are good for a few days, so we could have some follow through here.
Swiss francs
(
SFZ1 |
Quote |
Chart |
News |
PowerRating) are still Pulling
Back From Lows, after encountering resistance at the confluence of their
20-day moving average and the overhead gap at .6074. This, as the dollar
(
DXZ1 |
Quote |
Chart |
News |
PowerRating) made a 20-day high.
Crude oil
(
CLZ1 |
Quote |
Chart |
News |
PowerRating) has had three
consecutive lows at 16.70, which indicates it is trying to bottom, but it still
is trading in a flag near its lows. The world is waiting to hear if Russia
intends to cut back production any more than the 30,000 bpl they already have.
When a decision comes, trading will be volatile.
Silver
(
SIZ1 |
Quote |
Chart |
News |
PowerRating) made another contract
low, but closed slightly off its lows. This Implosion-5
leader is continuing its descent out of a descending triangle. Gold
(
GCZ1 |
Quote |
Chart |
News |
PowerRating) followed suit, also making a 20-day low.
Cotton
(
CTH2 |
Quote |
Chart |
News |
PowerRating) stays on the Momentum
List, and is added to the Pullback
From Highs list, and appears to be digesting some of its recent gains. In a
rally that started Oct. 26, cotton now is trading above its 50-day moving
average, and has demonstrated support at the 35.00 level.
Soybean Oil
(
BOZ1 |
Quote |
Chart |
News |
PowerRating), on the Pullbacks
From Highs list, looks poised to rally out of a cup and handle.
Remember, the NYMEX is closed Friday.
Â
|
Contract
|
Setup |
Direction |
Trigger |
Crude Oil ( CLZ1 | Quote | Chart | News | PowerRating) |
 Consolidation Near Lows |
 down |
below 16.70 |
| Silver ( SIZ1 | Quote | Chart | News | PowerRating) |
Follow-through from descending triangle |
 down |
below 40.15 |
franc ( SFZ1 | Quote | Chart | News | PowerRating) |
 Pullback From Lows |
 down |
below 60.15 |
| Unleaded gas ( HUZ1 | Quote | Chart | News | PowerRating) |
 Pullback From Lows |
 down |
below 52.40 |
| Soybean oil ( BOZ1 | Quote | Chart | News | PowerRating) |
 Cup and handle |
 up |
above 16.30 |
( CTH2 | Quote | Chart | News | PowerRating) |
 Pullback From Highs |
 up |
above 36.60 |
Define the risk before every
trade and honor your stops.Â