Index Futures Still Constuctive
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.
For you bottom fishers, July cotton
(
CTN1 |
Quote |
Chart |
News |
PowerRating) once again appears to be
finding support near life-of-contract lows. Look for a buying opportunity here.
Even though they stalled out on Thursday, I remain constructive on the June index
futures. So far, it looks like their bigger picture cup and handles remain
intact. Continue to look for buying
opportunities here.
Looking Ahead
The Dollar is beginning to look like it has
topped out. This may set up buying opportunities in the inverse currencies next
week.
Best of luck with
your trading on Friday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!