OJX9 May Resume Uptrend
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.
There are only two markets that look interesting to me tonight.
November Orange Juice [OJX9>OJX9], mentioned over the past two nights, looks poised to resume its uptrend. Continue to look for a buying opportunity here.
Source: Omega Research.
February 2000 Pork Bellies [PBG9>PBG9], on the Pullbacks From Highs List, gapped to new 10 day lows on the open today but reversed to close well. This may have the shorts trapped on the wrong side of the market. Look for a buying opportunity here.
Best of luck with your trading on Monday!
Dave Landry
PS-Reminder: Protective stops on every trade!