Friday’s Futures Setups
Friday is Triple Witching, and with today’s action combined with a CVR II
sell signal on the Market
Bias page, look for further downside in the indices,
(
SPH2 |
Quote |
Chart |
News |
PowerRating),
(
NDH2 |
Quote |
Chart |
News |
PowerRating), and
(
DJH2 |
Quote |
Chart |
News |
PowerRating).
Bonds
(
USH2 |
Quote |
Chart |
News |
PowerRating) closed above their downtrend line, but also just below
their 50% retracement level, which they bounced off of today. A move through
this level is bullish. Ten-year notes
(
TYH2 |
Quote |
Chart |
News |
PowerRating) still are below their trend
line, and also closed below their 50% level.
Soybeans
(
SH2 |
Quote |
Chart |
News |
PowerRating) still can’t move above their trendline, and look like a
pullback from lows here. Soybean oil
(
SMH2 |
Quote |
Chart |
News |
PowerRating) made good on its Turtle Soup
Plus One setup; look for possible continuation Friday, although the main trend
is down.
The U.S. Dollar Index
(
DXH2 |
Quote |
Chart |
News |
PowerRating) was turned back from its 20-day moving
average after a four-day rally, and closed in a gravestone doji under its 50-day
moving average. This has it set up to the downside for Friday.
British pounds
(
BPH2 |
Quote |
Chart |
News |
PowerRating) rallied off a former trendline to close in a
hammer, and after a three-day pullback, look ready to move back up. The Swiss
franc
(
SFH2 |
Quote |
Chart |
News |
PowerRating) looks to be rallying out of a pullback, and the Euro
(
ECH2 |
Quote |
Chart |
News |
PowerRating) has a similar pattern.
Coffee
(
KCH2 |
Quote |
Chart |
News |
PowerRating) decisively took out its short-term trendline and both its
20- and 50-day moving averages. Entry above Thursday’s high looks promising.
Sugar
(
SBH2 |
Quote |
Chart |
News |
PowerRating) looks like a pullback here, and could go lower.
Copper
(
HGH2 |
Quote |
Chart |
News |
PowerRating) is still sitting in a head and shoulders pattern, just
above the neckline.
|
Contract
|
Setup
|
Direction
|
Trigger
|
| Copper (HGH2) |
head and shoulders
|
down
|
below
|
| US dollar index ( DXH2 | Quote | Chart | News | PowerRating) |
gravestone doji, close
|
down
|
below Thursday’s low |
| British pound ( BPH2 | Quote | Chart | News | PowerRating) |
rally out of pullback
|
up
|
above Thursday’s high |
| Swiss franc ( SFH2 | Quote | Chart | News | PowerRating) |
rally
|
up
|
above Thursday’s high |
| Coffee ( KCH2 | Quote | Chart | News | PowerRating) |
wide-range bar taking out
|
up
|
above Thursday’s high |
| Soybean oil (BOH2) |
Turtle Soup Plus One –
|
up
|
above Thursday’s high |
Use stops on all your
trades.