Indices Poised To Rally
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.
At the time this is being published, the S&P Globex
futures are trading .50 points lower and the bond market is trading up 1 tick.
Special thanks to Marc Dupee’ for filling in while I was away.
Tonight (Monday), we have three indicators pointing higher on the Market
Bias Page. This suggests that there may be a buying opportunity here or in
the September Nasdaq 100 futures
(
NDU0 |
Quote |
Chart |
News |
PowerRating) which have held up slightly
better as of late.
For you breakout players, August natural gas
(
NGQ0 |
Quote |
Chart |
News |
PowerRating) closed
at life-of-contract highs and looks poised to take out the top of its recent
consolidation. Look for a buying opportunity here but be warned, trading this
volatile contract at these levels is not for the faint at heart.
Best of luck with your trading on Tuesday!
PS-Reminder: Protective stops on every trade!