Spooz Correcting
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
(
SPM2 |
Quote |
Chart |
News |
PowerRating), mentioned recently, sold off hard. The fact
that they failed to take out the 1180-ish resistance level and the fact that the
VIX remains low suggests that the correction has begun. Continue to look for
shorting opportunities here.
The June Swiss Franc
(
SFM2 |
Quote |
Chart |
News |
PowerRating), mentioned Tuesday night, appears to be
resuming its uptrend out of a pullback.
Looking Ahead
The meats remain in a strong downtrend. Once again, they could set up soon as
shorts.
The April crude complex is beginning to show some signs of correcting. We
could see setups here soon on a pullback.
Best of luck with
your trading on Thursday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!