More Pounding Ahead?

February 4, 2002
Dave Landry

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 British pound
(
BPH2 |
Quote |
Chart |
News |
PowerRating) has formed an inverted cup and handle.
Wait for signs of a reversal, though, as it was up sharply on Monday.

Looking Ahead

March cotton
(
CTH2 |
Quote |
Chart |
News |
PowerRating) has been in base-building mode for quite a while. Watch for the first pullback after it breaks
out.