Futures In Fast Moves….
Each evening we focus on the most interesting aspects for the upcoming trading day. The comments are based on observations of the nightly updates of the Futures and Market Bias pages. They are provided for educational purposes only and are not intended to be direct trading advice. Also, keep in mind that these remarks are made up to 12 hours in advance of the markets opening. Therefore, overnight events may alter the outcome of these observations.
At the time this is being published, the S&P Globex Futures are trading .20 points higher and the Bond Market Futures are up 1 tick.
Futures in fast moves often only pullback for a few days before heading higher. With that said, the September Swiss Franc [SFU9>SFU9] and the D-mark [DMU9>DMU9], both on the Momentum 5 List, are in fast moves and have begun to pullback. Look for a buying opportunities here.
Source: Omega Research.
August Lean Hogs [LHQ9>LHQ9] gapped open to 20 day new highs today but reversed to close poorly. This may have breakout players trapped on the wrong side of the market. Look for a shorting opportunity here.
December Cotton [CTZ9>CTZ9], on the Implosion 5 List, appears to have resumed its bigger picture downtrend. Look for a shorting opportunity here.
Best of luck with your trading on Thursday!
Dave Landry
PS-Reminder: Protective stops on every trade!