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.
That the VIX setup as a CVR I buy signal andÂ
we got a (20-day)
TRIN Reversal (see Monday’s Stock Outlook for more information here) suggest
that we could see a continued bounce in the March S&P Futures
(
SPH1 |
Quote |
Chart |
News |
PowerRating).
Look for a buying opportunity here.
March corn
(
CH1 |
Quote |
Chart |
News |
PowerRating) still remains in a vulnerable position. Continue to look for a
shorting opportunity here.
Looking Ahead
March coffee
(
KCH1 |
Quote |
Chart |
News |
PowerRating) continues to
hold up fairly well near life-of-contract lows. No setups yet, but possibly a
big picture pattern in the works.
Best of luck with
your trading on Tuesday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!