Indices To Continue Reversal?
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.
Both the March Nasdaq 100
(
NDH1 |
Quote |
Chart |
News |
PowerRating) and S&P
500 futures
(
SPH1 |
Quote |
Chart |
News |
PowerRating) gapped higher on the open but reversed to close poorly.
This, combined with overbought conditions (see Wednesday’s Stock Outlook) and
four indicators pointing lower on the Market
Bias Page, suggests that there may be
shorting opportunities here.
face=”Arial, Helvetica”>
March cotton
(
CTH1 |
Quote |
Chart |
News |
PowerRating), mentioned
recently, still looks vulnerable. Look for a shorting opportunity here.
Best of luck with
your trading on Thursday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!
Â