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

 

Here are the intraday numbers for the E-minis (ESH3):

S2 826  S1 83.41 Pivot: 842  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.

Brice