Spooz And Dow Remain Vulnerable
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.
There’s not much to look at again
tonight. Bellies, mentioned recently, broke out to the upside. Wait for the next
pullback here. The majority of the other commodities are very oversold.
Considering the above, about all I
could find of interest was the June S&P Futures
(
SPM1 |
Quote |
Chart |
News |
PowerRating) and the Dow
Jones Futures
(
DJM1 |
Quote |
Chart |
News |
PowerRating). Both of these contracts closed lower after trading
higher intra-day. This suggests their downtrends remain intact. Look for
shorting opportunities here.
Looking Ahead
July copper
(
HGN1 |
Quote |
Chart |
News |
PowerRating) is in a strong
downtrend and may set up as a pullback from lows over the next few days.
Best of luck with
your trading on Tuesday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!
Â
Â