Index Futures Making Handles
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 June index futures, especially the S&P
(
SPM1 |
Quote |
Chart |
News |
PowerRating) and Dow Jones
(
DJM1 |
Quote |
Chart |
News |
PowerRating) have formed low-level cup and handle patterns. Look for buying
opportunities here but wait for signs of a reversal before attempting an entry.
For you bottom pickers, July cotton
(
CTN1 |
Quote |
Chart |
News |
PowerRating)
gapped to life-of-contract lows but reversed to close well. This suggests that
it may be trying to put in a double bottom.
Best of luck with
your trading on Monday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!
P.P.S. Special thanks to Marc Dupée for filling in while I
was away. As expected, nice job!