Orange Juice may offer shorting opportunity
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.
At the time this is being published, the S&P Globex Futures are trading 2.00 points higher and the bond market is trading up 1 tick.
March Orange Juice [OJH0>OJH0], mentioned last night on the Pullback From Lows List, still looks poised to challenge its old lows. Look for a shorting opportunity here.
The March Dow Jones Futures [DJH0>DJH0], on the Turtle Soup Plus One Sell List, gapped open to all-time highs but reversed to close poorly. This is not the type of action you would expect at new highs. Look for a shorting opportunity here.
The March Canadian Dollar [CDH0>CDH0], mentioned last night on the Pullbacks Off Highs, still looks like it has potential to rally out of a pullback. Continue to look for a buying opportunity here.
The March British Pound [BPH0>BPH0], on the Momentum 5 List, looks like it has begun to pull back after a sharp rally off of what appears to be a head and shoulder bottom. Look for a buying opportunity here.
Best of luck with your trading on Tuesday!
PS-Reminder: Protective stops on every trade!