Monday’s Futures Setups

  • January 10, 2003
  • Brice Wightman

The Dow fell 20 points
to 8,755, the Nasdaq added 4 points to 1,442 and the S&P 500 slid 2 points to
925. For the week, the S&P 500 and the Dow both gained 2.1%.

Long
Candidates:


Contract

Setup

Direction

Trigger
Yen

(
JYH3 |
Quote |
Chart |
News |
PowerRating)		 pullback
from highs		 up above
Friday’s highs
Euro

(
ECH3 |
Quote |
Chart |
News |
PowerRating)		 breakout up pullbacks
to 1.049, or above Friday’s high
Coffee

(
KCH3 |
Quote |
Chart |
News |
PowerRating)		 continuation up pullbacks
to 63.70, or above Friday’s high

The Yen
(
JYH3 |
Quote |
Chart |
News |
PowerRating) is pulling back from highs, still above its
trendline breakout.

The Euro
(
ECH3 |
Quote |
Chart |
News |
PowerRating) broke out to new highs and could continue.

Coffee
(
KCH3 |
Quote |
Chart |
News |
PowerRating) is still rallying out of a 1,2,3.


Short
Candidates:



Contract

Setup

Direction

Trigger
Bean
Oil
(
BOH3 |
Quote |
Chart |
News |
PowerRating)		 gap
down		 down below
Friday’s low
Soybeans

(
SH3 |
Quote |
Chart |
News |
PowerRating)		 gap
down		 down below
Friday’s low
Dollar

(
DXH3 |
Quote |
Chart |
News |
PowerRating)		 trend down rallies
to 102.03, or below Friday’s low
Copper

(
HGH3 |
Quote |
Chart |
News |
PowerRating)		 Fib
level		 down rallies
to .749, or below Friday’s low

The Dollar
(
DXH3 |
Quote |
Chart |
News |
PowerRating) continues to be weak. The AB=CD on the weekly works
out to 95 and change!


Copper
(
HGH3 |
Quote |
Chart |
News |
PowerRating) is hitting Fib resistance and could pull back.

Beans
(
SH3 |
Quote |
Chart |
News |
PowerRating) and Bean Oil
(
BOH3 |
Quote |
Chart |
News |
PowerRating) got slammed and look
lower. 

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.

Remember,
use stops on all your trades.

Brice