Index Reversal To Continue?
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 index futures, mentioned Thursday
night, reversed to close poorly from a pop-up opening. For the nimble, continue
to look for shorting opportunities here.
February gold
(
GCG1 |
Quote |
Chart |
News |
PowerRating) gapped
higher on the open but reversed to close poorly. This suggests that its
downtrend remains intact. Look for a shorting opportunity here.
face=”Arial, Helvetica”>
February unleaded gas
(
HUG1 |
Quote |
Chart |
News |
PowerRating),
mentioned Thursday night, gapped lower on the open but reversed to close well.
This suggests that its recent up-move remains intact. Look for buying opportunities here.
Best of luck with
your trading on Monday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!
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