Spooz 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.
The VIX began to rise on Friday which creates a
CVR II sell signal on the Market Bias Page. This, combined with negative price
action, suggests the September
S&P futures
(
SPU1 |
Quote |
Chart |
News |
PowerRating) and Dow Futures
(
DJU1 |
Quote |
Chart |
News |
PowerRating) are resuming their
downtrends. Continue to look for shorting opportunities here.
August feeder cattle
(
FCQ1 |
Quote |
Chart |
News |
PowerRating) looks poised to resume their uptrend out of
a high level cup/base formation. Look for a buying opportunity here.
Looking Ahead
The energies have begun to bounce and should set
up as shorts soon.
Best of luck with
your trading on Monday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!