Shorts Setting 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.
The June Canadian Dollar
(
CDM1 |
Quote |
Chart |
News |
PowerRating)
has begun to pull back from lows. Look for a shorting opportunity here but wait
for follow through to the downside before attempting an entry.
Looking Ahead
The June S&P futures
(
SPM1 |
Quote |
Chart |
News |
PowerRating)
are now in retrace from lows mode. They may set up as a short early next week.
May sugar
(
SBK1 |
Quote |
Chart |
News |
PowerRating) is in a sharp
downtrend and looks poised to break even lower out of a big picture topping
formation (pull up the weekly when you get a chance). This contract may set up
as a short on the next pull back from lows.
June copper
(
HGM1 |
Quote |
Chart |
News |
PowerRating) may also set up as a pull back from lows over the
next few trading days.
Best of luck with
your trading on Monday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!