Index Futures Remain In Weak Position
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
market’s opening. Therefore, overnight events may alter the
outcome of these observations.
The December Nasdaq 100 futures
(
NDZ0 |
Quote |
Chart |
News |
PowerRating), mentioned Wednesday night, still
look vulnerable. Continue to look for
a shorting opportunity here.face=”Arial, Helvetica”>
The December S&P futures
(
SPZ0 |
Quote |
Chart |
News |
PowerRating), also mentioned
Wednesday night, remain in a weak position. Continue to look for a shorting
opportunity here.
Looking Ahead
Once
again, the meats, mentioned recently, continue to new highs. If
they pull back over the next few days, they may set up as buys.Â
Crude
and unleaded gas have begun to pull back from their recent meltdown. These
contracts may set up as shorts early next week.
Best of luck with
your trading on Friday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!