More Spooz Slide Ahead?
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 September index futures have stalled out in a rally from lows and look
poised to challenge those lows. Look for shorting opportunities here.
August feeder cattle
(
FCQ1 |
Quote |
Chart |
News |
PowerRating), mentioned
recently, tailed higher on Monday but reversed to close poorly. This action
suggest that they are still poised to break down out of a major topping formation.
Continue to look for a shorting opportunity
here.
Although August lean hogs
(
LHQ1 |
Quote |
Chart |
News |
PowerRating) were down
on Monday, they still look like they have the potential to make one more trip
back to life-of-contract highs, especially if they can take out Friday’s pivot
high. Continue to look for a buying opportunity here.
Best of luck with
your trading on Monday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!
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