Meats And Energies 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.
As mentioned Tuesday night, for the nimble, June heating oil
(
HOM2 |
Quote |
Chart |
News |
PowerRating) has pulled back since its recent
thrust down. This looks like a good place for it to begin another leg lower
(i.e., anticipating a Bow Tie). Just make sure you wait for entries because so
far, it continues to rally. June crude
(
CLM2 |
Quote |
Chart |
News |
PowerRating) and unleaded
gas
(
HUM2 |
Quote |
Chart |
News |
PowerRating) also look vulnerable.
May bellies
(
PBK2 |
Quote |
Chart |
News |
PowerRating) and June
hogs
(
LHM2 |
Quote |
Chart |
News |
PowerRating), mentioned recently, still look like they have the potential to
resume their downtrend out of a pullback.
May feeder cattle
(
FCK2 |
Quote |
Chart |
News |
PowerRating) look like they have the potential to resume
their strong downtrend out of a pullback.
Best of luck with
your trading on Thursday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!