Nasdaq Remains Vulnerable
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
market’s opening. Therefore, overnight events may alter the
outcome of these observations.
February heating oil
(
HOG1 |
Quote |
Chart |
News |
PowerRating) began to break down out of a pullback from
lows on Thursday. Look for
shorting opportunities here.
The March Nasdaq futures
(
NDH1 |
Quote |
Chart |
News |
PowerRating), mentioned recently, still look
like they have the potential to resume their longer-term downtrend out of a
pullback from lows. Look for a shorting opportunity here, but, as always, wait
for follow-through to the downside before attempting an entry.
face=”Arial, Helvetica”>
For you breakout players, February live
cattle
(
LCG1 |
Quote |
Chart |
News |
PowerRating), mentioned Wednesday night, rallied nicely on Friday and looks
poised to challenge life-of-contract highs. Continue to look for a buying opportunity here.
Best of luck with
your trading on Friday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!
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