More Bounce In The Index Futures?
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 March Swiss franc (SFH2)
looks poised to resume its downtrend out of a pullback from lows.
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April hogs (LHJ2)
look like they have the potential to rally out of a pullback.
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The March index futures, mentioned Thursday night, may still have
some bounce left in them. I’m basing this on market timing signal buys
(a recent TRIN Reversal, CVR II and CVR III) and the oversold nature
of the market. You might want to avoid or wait for second entries if
they “pop up” on Monday.
Volatility Watch
March coffee (KCH2)
has been a low–volatility
situation for quite a while. The longer it stays this way, the bigger
the move (in either direction) as volatility reverts to its mean.
Best of luck with your
trading on Monday!
P.S. Reminder: Protective
stops on every trade!
