September DMark And Franc Up
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 2.10 points lower and the Bond Market Futures are up 2 ticks.
For you breakout players, the renewed slide (a) in the September Dollar [DXU9>DXU9] pushed the September Dmark [DMU9>DMU9] and Swiss Franc [SFU9>SFU9] to new 2 month highs. Look for buying opportunities here as the Dollar remains weak.
Source: Omega Research.
All three futures indices, the September Nasdaq 100 [NDU9>NDU9], the Dow Jones [DJU9>DJU9] and the S&P [SPU9>SPU9] are now on the Implosion 5 List. Look for shorting opportunities here or better yet, wait for a pullback before attempting an entry.
Volatility Watch
September Bonds [USU9>USU9] continues to be on the Volatility Explosions – Multiple Days List. Watch for a larger-than-normal move (in either direction) as volatility reverts to its mean.
Best of luck with your trading on Thursday!
Dave Landry
PS-Reminder: Protective stops on every trade!