July Silver Closed Well


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 .20 points lower and the Bond Market Futures are trading down 2 ticks.

July Silver [SIN9>SIN9], on the Pullbacks From Highs List, closed well today (b) reversing yesterday’s sell off (a). Look for a buying opportunity here.



Source: Omega Research.

The June Canadian Dollar [CDM9>CDM9], on the Momentum 5 List, is in day two of a pullback from highs. Watch for a buying opportunity here as the underlying trend remains very strong.

Volatility Watch

Last night, I talked about the fact that historical volatility only measures changes on a close to close basis. Notice that June Heating Oil [HOM9>HOM9] has had very little change on a closing basis over the past four days. This action has it on all three Volatility Explosion Lists. Watch this contract over the next few days for a large move (in either direction) as volatility reverts back to its mean.

Best of luck with your trading on Thursday!

Dave Landry

PS-Reminder: Protective stops on every trade!