One More Stab Lower In Corn?
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.
July corn
(
CN1 |
Quote |
Chart |
News |
PowerRating) appears to be stalling out in its rally from
life-of-contract lows. This action suggests that it may challenge those lows.
Look for a shorting opportunity here.
August gold
(
GCQ1 |
Quote |
Chart |
News |
PowerRating) is forming a narrow range
consolidation after its failed breakout. Look for a shorting opportunity here.
Looking Ahead
On Monday, the VIX hit its lowest level since
February. It’s too early to tell if this is just a sign or summer or a warning
sign. Watch the index futures, especially the June Nasdaq 100 futures
(
NDM1 |
Quote |
Chart |
News |
PowerRating) (see tonight’s Stock Outlook for details) for potential shorting
opportunities.
Best of luck with
your trading on Tuesday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!
P.P.S. Special thanks to Marc Dupee’ for filling in while I
was away. As usual and expected, nice job!