Spoo Bounce?
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.
For the nimble (i.e. daytrader), the September
S&P futures
(
SPU1 |
Quote |
Chart |
News |
PowerRating) reversed to close well after tagging their recent
lows. This action may have the breakout players trapped on the wrong side of the
market. Look for a buying opportunity here.Â
October sugar
(
SBV1 |
Quote |
Chart |
News |
PowerRating), mentioned
recently, still looks vulnerable. Continue to look for a shorting opportunity here.
Looking Ahead
Gold, the poster child for false breakouts
over the last five years, may be attempting yet another up move. It may set up
over the next few days.
Best of luck with
your trading on Friday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!
Â