Spoo Bounce Part 2
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 VIX once again imploded (b) after spiking higher (a) on Friday. And, once
again, the March
S&P futures
(
SPH1 |
Quote |
Chart |
News |
PowerRating)Â recovered from a sharp spike
lower. Therefore, this, combined with other indicators (see my Stock
Trading Outlook), suggests there could be a bounce play in the March S&P
futures
(
SPH1 |
Quote |
Chart |
News |
PowerRating).
The Canadian Dollar
(
CDH1 |
Quote |
Chart |
News |
PowerRating) is
forming a narrow consolidation and looks poised to stab lower. Look for a
shorting opportunity here.
Best of luck with
your trading on Monday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!