Monday’s Futures Setups

  • October 11, 2002
  • TradingMarkets Editors

The index futures have rallied for the second straight day.
Nimble traders can play the rally to the long side, or go short on an intraday
pattern if we see a reversal.

 


Possible
short candidates:



Contract

Setup

Direction

Trigger
Corn
(
CZ2 |
Quote |
Chart |
News |
PowerRating)

Momentum
continuation

 down Trade below 246 1/2
Soybeans
(
SX2 |
Quote |
Chart |
News |
PowerRating)
Counter trend rally		 down Trade below 528
Soymeal
(
SMZ2 |
Quote |
Chart |
News |
PowerRating)
Counter trend rally		 down Trade below 166.30
Canadian Dollar
(
CDZ2 |
Quote |
Chart |
News |
PowerRating)		 Counter trend rally down Trade below .6276


Possible
long candidates:






Contract
 Setup
Direction
 Trigger
Pork Bellies
(
PBG3 |
Quote |
Chart |
News |
PowerRating)		 Continuation out of pullback to 20-day MA   up Trade above 75.05
Sugar
(
SBH3 |
Quote |
Chart |
News |
PowerRating)		 Pullback from high up Trade above 6.85

Please note that while there are strong trends, one bar or a series of bars
forming a setup can sometimes indicate a contra move for the next day. This
contra move may not be long-lasting — maybe only for a day or two. Trading with
the main trend is always the highest probability trade.

Use stops on all your trades.