Low Levels In VIX
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 VIX is near
its lowest level in months. This, combined with a CVR II and
CVR VI sell signal on the
Bias Page, suggests that there may be an upcoming
shorting opportunity in the September S&P
(
SPU0 |
Quote |
Chart |
News |
PowerRating)
and September Dow
(
DJU0 |
Quote |
Chart |
News |
PowerRating) futures. Just wait for
confirmation before attempting a position trade, as the Dow
found support near the bottom of its recent range (see last
night’s archive) and the S&P was up nicely on Friday.
August gold
(
GCQ0 |
Quote |
Chart |
News |
PowerRating) looks poised to rally out of its recent
consolidation. Look for a buying opportunity here.
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For those willing
to assume a high degree of risk, August natural gas
(
NGQ0 |
Quote |
Chart |
News |
PowerRating) looks like it might have one last stab to
life-of-contract highs left in it. Look for a buying
opportunity here.
Best of luck with
your trading on Monday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!