Index Bounce Time?

 

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 fact that the September indices found support near their recent
lows combined with buy signals (see tonight’s Stock Outlook) suggests
that we could see a bounce in the index futures. Look for buying
opportunities here.

 

August
bellies (PBQ1)
are attempting to resume their uptrend after Wednesday’s "knock
out" move. Look for a buying opportunity here.

Follow
Up

The
dollar, mentioned recently, was down sharply on Thursday. This action
caused the September Swiss Franc (SFU1)
and Euro (ECU1)
to rally sharply. If you have positions here, you might want to lock
in a piece.

Best of luck with your
trading on Friday!

Dave
Landry

P.S. Reminder: Protective
stops on every trade!

 

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 fact that the September indices found support near their recent
lows combined with buy signals (see tonight’s Stock Outlook) suggests
that we could see a bounce in the index futures. Look for buying
opportunities here.

 

August
bellies (PBQ1)
are attempting to resume their uptrend after Wednesday’s "knock
out" move. Look for a buying opportunity here.

Follow
Up

The
dollar, mentioned recently, was down sharply on Thursday. This action
caused the September Swiss Franc (SFU1)
and Euro (ECU1)
to rally sharply. If you have positions here, you might want to lock
in a piece.

Best of luck with your
trading on Friday!

Dave
Landry

P.S. Reminder: Protective
stops on every trade!