Indices Remain Vulnerable
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.
On Tuesday, the VIX began to bounce from low levels. This action sets up a
CVR II signal on the Market
Bias Page. This, along with other sell signals (see tonight’s Stock
Outlook), suggests that the September index futures are vulnerable. Therefore, continue to look for shorting
opportunities here.
August lean hogs
(
LHQ1 |
Quote |
Chart |
News |
PowerRating), mentioned Thursday night, still look
interesting to me. Continue to look for a buying opportunity here.
The dollar continues to form a high level "micro" cup and handle. This
action suggests that their may be a shorting opportunity in the inverse
currencies. The September Japanese Yen
(
JYU1 |
Quote |
Chart |
News |
PowerRating) looks most vulnerable here.
Best of luck with
your trading on Thursday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!