Set Ups Galore
Marc Dupée Wrote This Installment.
For those of you unable to attend TradingMarkets Pork bellies also left a Turtle Soup Plus One buy set up at a contract Feeder cattle rallied out of a cup-with-handle pattern on a wide range Live cattle also closed essentially at a three-month high and on the Currencies no longer have the definitive threat of European central In the grains, the strong break to new lows in soy bean oil Look for T-bonds to continue resistance in the 100 21/32 area on November orange juice March 2001 sugar
2000, you missed some never-before-released and very interesting material that is the
subject of Dave’s upcoming book on swing trading. Both the taped version of
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the TradersGalleria by clicking
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Precious metals are looking soupy. Both gold and silver lodged Turtle
Soup Plus One Buy signals. Gold already recovered more than $2 after
gapping to a contract low in Tuesday’s session. Look for December silver
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low and looks like it could present a bottom fishing opportunity.
bar. This action also put it on the Momentum-5
List. Look for entry on this contract but not until it breaks Wednesday’s
high for confirmation of a follow-through move.
top of its daily range in an expansion of range and out of a cup-and-handle. The
rally in feeders and lives points to even greater upside potential for cattle
contracts.
bank intervention underpinning a move to fresh contract lows. While this
contract may pull back for a few more days before testing lows, look for a break
of the low of a high bar pullback. Currently, the .85150 area and the .84780
lows are providing some support as well as pivot points.
(
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List reading, and potential for even greater downside (due to its Multiple
Days Low Volatility reading), as well as the failed rally off six-week lows
in soybeans (also an Implosion-5 member), bode negatively for the bean complex.
Look for soybeans and soybean meal
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more safe haven buying in the event of any negative or neutral news. It is from
that area that the December contract
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contract is currently showing a Turtle
Soup Plus One Sell). Expensive oil, poor corporate earnings, Middle East
violence, and stock option expiration are all making the perceived stability of
bonds attractive.
(
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From Lows setup with Tuesday lodging an inside day to present a very low
risk setup in this contract. A traditional way of entering such a setup is to
try getting short on a move below Tuesday’s low with a stop placed at the high.
Look for a continuation of the down move.
(
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market. Tuesday, the contract also logged an inside day, but on the high, the
typical resting place for a market after a strong upward impulse move. Consider
using Off The Blocks or the 1090 Open Method for entry.