Greenback Vulnerable
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.
The dollar looks poised to make another leg lower. With that said, the September Swiss Franc
(
SFU1 |
Quote |
Chart |
News |
PowerRating) and British Pound
(
BPU1 |
Quote |
Chart |
News |
PowerRating), both mentioned Friday, still look poised to rally out of pullbacks from highs. Look for buying opportunities here.
On Monday, the indices failed to follow through from Friday’s rally. This,
combined with Market Bias Sell signals, suggests that the September index
futures will return to last week’s lows. The Nasdaq 100 futures
(
NDU1 |
Quote |
Chart |
News |
PowerRating) look
especially vulnerable. Look for shorting opportunities here.
Best of luck with
your trading on Tuesday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!
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