Let The Markets Come To You
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.
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There’s not much
to look at tonight (Friday). The Nasdaq 100 futures
(
NDU0 |
Quote |
Chart |
News |
PowerRating), mentioned Thursday night, rallied nicely on
Friday, but tailed off, giving up much of their gains going
into the close.
September coffee
(
KCU0 |
Quote |
Chart |
News |
PowerRating) broke to life-of-contract lows,
but is now at such low levels that one has to wonder how
much downside is left here. The grains aren’t set up and are
in a similar situation to coffee.
August lean hogs
(
LHQ0 |
Quote |
Chart |
News |
PowerRating), mentioned Wednesday night,
continued their rally on Friday. However, one should
probably be thinking about locking in profits here versus
attempting an entry, as they are overbought on a short-term
basis.
Considering the
above, I was unable to find any markets that were set up for
Monday. Remain patient; you don’t have to trade every day.
Best of luck with
your trading (or not trading) on Monday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!