July Coffee May Resume Uptrend
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 1.10 points lower and the Bond Market Futures are trading up 1 tick.
There are two markets that look interesting to me tonight.
July Coffee [KCN9>KCN9], on the Momentum 5 List, closed well today and appears poised to resume its uptrend. Look for a buying opportunity here.
Source: Omega Research.
For you breakout players, July Sugar [SBN9>SBN9], mentioned last night and up .24 cents today, broke out to new 6 week highs. Continue to look for a buying opportunity here.
Best of luck with your trading on Wednesday!
Dave Landry
PS-Reminder: Protective stops on every trade!