Spooz At Resistance
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 S&P futures
(
SPM2 |
Quote |
Chart |
News |
PowerRating) continue to stall out near
longer-term highs. This, combined with the overbought nature of the market (see
recent stock and futures commentary) suggest that they are due to correct. Therefore, for the nimble only, look for shorting opportunities should it continue to show signs a reversing.
Looking Ahead
May coffee
(
KCK2 |
Quote |
Chart |
News |
PowerRating), mentioned recently, was up sharply on Monday. It
could set up soon on a pullback.
The March Yen
(
JYH2 |
Quote |
Chart |
News |
PowerRating), mentioned recently, its in the process of pulling
back. It could set up on the long side soon.
Best of luck with
your trading on Tuesday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!