Indices 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.
The late day fiasco in Nasdaq trading, negative price action combined with
the lowest VIX readings since September of 2000 (I know, it’s summer and the VIX
doesn’t matter) suggests that the September index futures remain vulnerable.
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.
August bellies
(
PBQ1 |
Quote |
Chart |
News |
PowerRating) have begun to pull back and look poised to resume
their strong uptrend. Look for a buying opportunity here.
Looking Ahead
The August crude complex has begun to bounce and may set up as shorts over
the next few days.
Best of luck with
your trading on Monday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!