New Trend In The Yen?
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 Yen
(
JYH2 |
Quote |
Chart |
News |
PowerRating), mentioned recently, is now set up as a Bow Tie.
This action is confirmed by the Dollar (an inverse currency) which is setting up
as a Bow Tie short.
The VIX remains at very low levels. This suggests that the June S&P futures
(
SPM2 |
Quote |
Chart |
News |
PowerRating)
are vulnerable. Therefore, for the nimble only, look for shorting opportunities, should
they show signs of reversing.
Looking Ahead
May coffee
(
KCK2 |
Quote |
Chart |
News |
PowerRating), mentioned recently, continues to melt up from lows. It
could set up soon on a pullback.
The April crude complex has been on a tear as of late. It could set up on a
pullback.
Best of luck with
your trading on Wednesday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!