Friday’s Futures Setups
The
Dow lost 85 to
7915,
the Nasdaq fell 3 to 1331, and the S&P 500 lost 8 to 837. Weak economic numbers,
war fears, and a negative ruling against SBC Communications were the causes.
Long
Candidates:
|
Contract |
Setup |
Direction |
Trigger |
| Canadian Dollar ( CDH3 | Quote | Chart | News | PowerRating) |
new highs |
up | pullbacks to .6622, and above Thursday’s high |
| Bonds/Notes | large triangle near highs |
up | above Thursday’s high |
| Copper ( HGH3 | Quote | Chart | News | PowerRating) |
bounce | up | above Thursday’s high |
The Canadian Dollar
(
CDH3 |
Quote |
Chart |
News |
PowerRating) made new highs again, closing in a doji.
Bonds
(
USH3 |
Quote |
Chart |
News |
PowerRating) and 10-year notes
(
TYH3 |
Quote |
Chart |
News |
PowerRating) are breaking
above large triangles.
Copper
(
HGH3 |
Quote |
Chart |
News |
PowerRating) may have another day bounce in it.
Short
Candidates:
|
Contract |
Setup |
Direction |
Trigger |
| Cocoa ( CCH3 | Quote | Chart | News | PowerRating) |
wide range bar |
down | rallies to 2201, and below Thursday’s low |
Â
Here are the intraday numbers for the E-minis (ESH3):
S2 826Â S1 83.41 Pivot: 842Â R1 848.41 R2
858
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. Be
advised that some futures contracts are prone to gaps.
Remember,
use stops on all your trades.