Spooz Slide????
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.
Tuesday’s TRIN Reversal sell signal combined with low VIX readings (see Swing
Trading With Me for details) suggests that the March index futures remain
vulnerable. The March Nasdaq 100
(
NDH2 |
Quote |
Chart |
News |
PowerRating) and S&P futures
(
SPH2 |
Quote |
Chart |
News |
PowerRating) look most promising since they are set up as pullbacks from lows.
Follow Up/Looking Ahead
March copper
(
HGH2 |
Quote |
Chart |
News |
PowerRating), mentioned last night as a potential breakout, broke
out on Wednesday. If you missed this, watch for the next pullback.
March heating oil
(
HOH2 |
Quote |
Chart |
News |
PowerRating), mentioned recently, still looks like it is
putting in a big picture bottom.
Best of luck with
your trading on Thursday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!