Friday’s Futures Setups
The Dow rose
2.1% to 8776, the Nasdaq rose 2.7% to 1438, and the S&P gained
1.9% to 927. Bonds got slammed, though, as the 30-year fell to 109-01 and the
10-year to 112-19.
Long
Candidates:
|
Contract
|
Setup
|
Direction
|
Trigger
|
| Bonds ( USH3 | Quote | Chart | News | PowerRating) |
bounce | up | above 109-10 |
| E-minis ( ESH3 | Quote | Chart | News | PowerRating) |
Bull Flag |
up | above Thursday’s high |
| Notes ( TYH3 | Quote | Chart | News | PowerRating) |
bounce | up | above 112-25 |
Short
Candidates:
| Contract |
Setup
|
Direction
|
Trigger
|
| Copper ( HGH3 | Quote | Chart | News | PowerRating) |
Fib level |
down | below .747 |
Copper
(
HGH3 |
Quote |
Chart |
News |
PowerRating) is hitting Fib resistance and could pull back.
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.
Remember,
use stops on all your trades.