Friday’s Futures Setups

  • October 10, 2002
  • TradingMarkets Editors

The bounce came, the indices closed strongly, and we
have CVR I and VI buy signals in place for tonight. Daytraders could play the
long side in the index futures if we get follow through Friday.

 


Possible
short candidates:



Contract

Setup

Direction

Trigger
Soybeans
(
SX2 |
Quote |
Chart |
News |
PowerRating)

Momentum
continuation

 down Trade below 523
Soybean Meal
(
SMZ2 |
Quote |
Chart |
News |
PowerRating)

Momentum
continuation

 down Trade below 165.00
Bean Oil
(
BOZ2 |
Quote |
Chart |
News |
PowerRating)

Momentum
continuation

 down Trade below 19.12
Canadian Dollar
(
CDZ2 |
Quote |
Chart |
News |
PowerRating)		 Momentum continuation down Trade below .6261


Possible
long candidates:






Contract
 Setup
Direction
 Trigger
Pork Bellies
(
PBG3 |
Quote |
Chart |
News |
PowerRating)		 Continuation out of pullback to 20-day MA   up Trade above 76.75
Lean Hogs
(
LHZ2 |
Quote |
Chart |
News |
PowerRating)
Continuation out of pullback to 20-day
MA   		up Trade above 41.45
Cocoa
(
CCZ2 |
Quote |
Chart |
News |
PowerRating)		 Momentum continuation up Trade above 2377

Please note that while there are strong trends, one bar or a series of bars
forming a setup can sometimes indicate a contra move for the next day. This
contra move may not be long-lasting — maybe only for a day or two. Trading with
the main trend is always the highest probability trade.

Use stops on all your trades.